Vietnam Approves National Energy Master Plan for 2021-2030

Vietnam Approves National Energy Master Plan for 2021-2030

Hanoi – Deputy Prime Minister Tran Hong Ha has recently signed a decision approving the national energy master plan for the period 2021-2030, with a vision extending to 2050. The plan aims to achieve multiple objectives, including ensuring energy security, supporting economic and social development, promoting industrialization and modernization, enhancing national defense and security, improving living standards, and protecting the environment.

A key focus of the plan is to develop an independent and self-sufficient energy industry while establishing a comprehensive ecosystem based on renewable and new energy sources. Vietnam aims to become a regional center for clean energy industries and renewable energy exports.

The plan sets targets for total primary energy supply, aiming to reach 155 million tonnes of oil equivalent by 2030 and between 294 and 311 million tonnes by 2050. National oil and petroleum reserves are expected to increase to 75-80 days of net imports by 2030, gradually reaching 90 days thereafter.

In terms of renewable energy, the plan targets a share of 15-20% in the total primary energy by 2030 and approximately 80-85% by 2050. It also aims to achieve energy savings of 8-10% by 2030 and 15-20% by 2050 compared to the normal development scenario. Greenhouse gas emissions are projected to be around 399-449 million tonnes by 2030 and approximately 101 million tonnes by 2050. The plan aims to reduce emissions by 17-26% by 2030 and around 90% by 2050 compared to the normal development scenario.

The plan emphasizes the efficient exploitation and utilization of domestic energy resources, including crude oil, natural gas, and commercial coal. Targets for production include 6-9.5 million tonnes of crude oil, 5.5-15 billion cubic meters of natural gas, and 41-47 million tonnes of commercial coal for the period 2021-2030.

By 2030, the plan envisions the establishment and development of clean energy centers in the northern, central, and southern regions, subject to favorable conditions. It also aims to meet domestic and export demands through the development of new energy production. The capacity for green hydroelectricity production is estimated to be about 100,000-200,000 tonnes per year by 2030 and 10-20 million tonnes annually by 2050.

To achieve these targets, the plan outlines six implementation solutions, including capital mobilization and allocation, policy mechanisms, environmental considerations, science and technology advancements, human resource development, international cooperation, and plan implementation and supervision.

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