LNG power is a trend of sustainable energy development in Vietnam. With the advantage of being a clean and efficient energy source, LNG power is being expected for the country’s economic and environmental development. However, the deployment and development of LNG power infrastructure also poses many challenges.

* Opportunities to develop LNG power in Vietnam:

• Demand for use: It is forecast that by the end of 2023, gas reserve will not enough for current demand. Especially when Vietnam begins to promote the transition to low-emission forms of energy to achieve the goals of the “COP 26 agreement” on climate change.
• LNG port development potential: In addition to Thi Vai LNG Terminal is operated from July 2023, Vietnam has many large ports capable of receiving LNG ships, helping to facilitate import and distribution LNG.
• Favorable geographical location: Located in the central of Southeast Asia, Vietnam can become an LNG center in this region, thereby attracting international investors and businesses.
• Diverse applications: Electricity is the most popular energy source in Vietnam and can be applied in many fields such as transportation, industry, civil, etc.

* Challenges of developing LNG power in Vietnam:

• Large infrastructure investment costs: Construction, transportation, storage and operation of LNG gas power projects require large investments and modern technology.
• Safety management: Gas industry incidents are considered the most dangerous. Therefore, the development of LNG Power in Vietnam needs to ensure strict management and safe operation.
• Cost: Large investment cost plus the import price of LNG depending on the world market makes this fuel quite expensive. Meanwhile, the input price of LNG fuel in our country accounts for 70 – 80% of the price of electricity sold to users.
• The government’s regulatory framework for LNG power as well as taxes for this fuel has many barriers.

LNG gas power is highly anticipated but also causes a lot of worry for the Vietnamese government and energy industry.