Headlines 29/05/2024 15:28 CH

Vietnam’s plan to implement national master planning for energy, with a vision toward 2050

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On April 24, 2024, the Prime Minister of Vietnam promulgated Decision No. 338/QD-TTg on approval for the plan to implement the national master planning for energy during 2021-2030, with a vision toward 2050.

According to the Decision, the main content of the plan to implement the national master planning for energy during 2021-2030, with a vision toward 2050, is as follows:

The national planning for energy includes the following sub-sectors: oil and gas, coal, electricity, and new and renewal energy, with tasks ranging from basic surveys, explorations, extraction, production, storage, and distribution to use and relevant activities.  

Planning concerning energy prescribed in Resolution No. 110/NQ-CP dated December 2, 2019 integrated into the national planning for energy, including the planning for oil and gas development, planning for the gas industry development, planning for the coal industry development, planning for renewable energy, shall not continue to be implemented as prescribed in Point c Clause 1 Article 59 of the Law on Planning.

Specifically, the plan for public investment projects and investment projects using funding other than public investment is as follows:

- The oil and gas sub-sector includes the following fields: (i) oil and gas search, survey, and extraction; (ii) gas industry; (iii) oil and gas processing; (iv) transport, storage, and distribution of oil and gas products.

- The coal sub-sector includes schemes/projects on: (i) coal survey; (ii) coal extraction; (iii) coal selection and processing; (iv) coal industry development infrastructures (including ports for exporting and importing coal and other infrastructure projects); (v) mine closing.

- The new and renewable energy sub-sector includes the following fields: (i) wind power; (ii) solar power; (iii) biomass energy, biofuel, and biogas; (iv) solid waste energy; (v) small hydroelectric power; (vi) other renewable energy sources (tides, ocean waves, and geothermal heat); (vii) new energy (hydrogen, ammonia, fuels derived from hydrogen, synthetic fuels, etc.).

Orientation toward the strong development of offshore wind power combined with other types of renewable energy (thermal power, onshore wind power, etc.) to develop new energy (hydrogen, green ammonia, etc.) for domestic demands and export purposes.

Sources of power derived from renewable energy to produce new energy for domestic demands and export purposes shall be prioritized/permitted to be developed without any restriction based on the assurance of national defense and security concerning energy, bringing in high economic effectiveness and becoming a new economic sector of Vietnam.

- The electricity sub-sector shall comply with the plan to implement the national planning for electricity development during 2021-2030, with a vision toward 2050.

Expected land use demands and investments are as follows:

- Demands for land for the development of facilities and infrastructures of the energy sector are approximately 93,54 - 97,24 thousand hectares during 2021-2030, with an orientation toward 171,41 - 196,76 thousand hectares during 2031-2050.

The sea surface area for offshore works is expected to be approximately 334.800 hectares by 2030 and 1.302.000 - 1.701.900 hectares by 2050.

- All investments in energy projects using funding other than public investments. The energy sector’s summarized demand for investment during 2021-2030 is approximately 4.133 - 4.808 trillion VND.  

Investment phases of stages are as follows:

+ During 2021-2025: approximately 1.640 - 1.887 trillion VND.

+ During 2026-2030: approximately 2.493 - 2.921 trillion VND.

Schemes to complete policies and laws and enhance the capacity of the energy sector using public investments.

See more details in Decision No. 338/QD-TTg dated April 24, 2024.


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