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Vietnam Power and Energy Update – 13 March 2024

PIC tracks the latest developments in Vietnam's power sector providing insight and analysis on the market and policy.

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Revised PDP8 Implementation Plan issued by the MOIT

Vietnam’s Ministry of Industry and Trade (MOIT) has issued a revised draft of the implementation plan for the National Power Development Plan for the period 2021 – 2030 (PDP8) and draft legislation for its approval. The revised plan was issued under Official Proposal 1315/TTr-BCT, dated 1 March 2024 and remains subject to approval. Source


AG&P LNG acquires 49% of Cai Mep LNG terminal

AG&P LNG has purchased a 49 percent interest in the Cai Mep LNG terminal in a new joint venture with Hai Linh Co. Ltd. The Cai Mep LNG terminal in Ba Ria - Vung Tau province, has an annual import capacity of 3 million tons and serves the Phu My industrial park, which has power plant capacity totaling 3.9 GW. Source

PV Gas to provide LNG for industrial production from March 2024

PV Gas, a subsidiary of Vietnam Oil and Gas Group (PertoVietnam), has launched an LPG/CNG/LNG integrated business model to supply LNG for industrial production from March 2024. Source


SK Group announces plans for green hydrogen projects in Vietnam

SK Group has announced plans for investment in a carbon-neutral value chain to produce green hydrogen in Vietnam. Source


Vietnam’s first flexible power source project planned for Ninh Binh province

Wartsila Group plans to invest in Vietnam's first flexible power project, combining LNG, renewables and hydrogen production. The 300 MW plant totaling VND 5.6 trillion is to be located in Ninh Binh province. Source


Public consultation on the revised Electricity Law launched in Q1 2024

Draft legislation revising Vietnam’s Electricity Law will be open to public consultation within Q1 2024. Submission of the draft legislation for approval by the National Assembly is expected by October 2024. Source

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