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Vietnam Energy Forum

Ten typical events of Vietnam energy sector in 2020

 - In 2020, despite many difficulties and challenges (from both inside and outside), especially the rage of Covid-19 pandemic, severe storms, and floods, trade tensions escalating and geopolitical competition complication ... our economy still maintained stability, the inflation and consumer price index (CPI) were well controlled, the GDP growth rate of 2, 91% - in the highest category in the world. It that great economic exploit, was an important contribution of the energy sector. Here are 10 typical events of the Vietnam energy sector in 2020, voted by the Scientific Council of Vietnam Energy Magazine.

1 / Promulgating the Politburo's Resolution 55 dated February 11, 2020, on "Vietnam's national energy development strategy to 2030, with a vision to 2045". The resolution sets out views, objectives, mission orientations, and major solutions for the development of the energy industry to 2030, with a vision to 2045.

The overall goals are: To firmly ensure national energy security, provide sufficient stable and high-quality energy at reasonable prices for rapid and sustainable socio-economic development, ensure national defense and security, improve people's lives and contribute to ensuring the ecological environment protection. 

2 / Implementing the projects of "The Master plan on national energy in the period of 2021 - 2030, with a vision to 2050". In year2020 The Ministry of Industry and Trade has established the QHNL and is currently finalizing the final contents to report to the Prime Minister in early 2021.

This is the first Vietnam Master plan on energy development, the ended contents of which are completing for reporting to the Prime Minister within the beginning of 2021.   

3 / Completing the project on the National Power Development Planning in  aperiod of 2021-2030, with a vision to 2045 (PDP VIII). The contents of PDP VIII have strongly manifested the orientation of 55 Resolution of Politburo in assignation developing power plants from coal fuel (from 33% currently to 27.2% in 2030 and 18 % in 2045) to renewable energy ( to 28.8% in 2030 and 43.7% in 2045) with a goal to minimize social costs, save energy, reduce pollution emission and greenhouse gas for environmental protection and sustainable development.         

4 / New discovering Ken Bau gas field located at Lot 114, Red River Basin, off Vietnam northern continental shelf, in 65 km from the nearest mainland of Quang Tri province, and about 86 km from Da Nang city with an estimated significant hydrocarbon volume of 7 to 9 Tcf and about 400 to 500 million barrels of condensate.

5 / On November 16, 2020, the Prime Minister issued Decision  No. 1819 / QD-TTg to appoint Mr. Hoang Quoc Vuong, the member of the Party Staff Board, Deputy Minister of MOIT to the position of the Chairman of PVN Member Council.

6 / Updating PVN development strategy for the period of 2021 - 2025 with a vision to 2035. In the period of 2021 - 2025, with a vision to 2035, PVN will aim to become a synchronously developed energy group with the core field as oil and gas exploration and exploitation (E&P), continuing to contribute to ensuring national energy security, maintaining the position of the main economic group of the country.

In addition, PVN aims forwards a great contribution in oil and gas science and technology, ready to become a "pave the way" for scientific and technological development in oil and gas, clean energy and renewable energy (especially offshore wind energy) in the future.

7 / Coal import increased by a record rate. In the first nine months of 2020, Vietnam imported 44.6 million tons of coal with a total value of $ 3.080 billion, increased by 37.8% in volume and 5.8% in value over the same period of the last year. 

The three largest coal import markets of Vietnam are Australia, Indonesia and Russia.

8 / The electricity sector reached a new milestone, by the end of 2020, Vietnam national power system ranked second place in ASEAN and 23rd place in the world with a total installed capacity of nearly 61.000 MW. The Electricity of Vietnam (EVN) owning the power plants with a capacity of 29.600 MW achieved many significant successes in improving electricity approaching 99.5% of households using electricity by 2020 (twice as much as 25 years ago) .

With the great achievements and contributions to the country over the recent decades, at December 21, 2020, on the occasion of 66th anniversary of the Traditional Day of Vietnam Electricity Sector   EVN was honored to be awarded the title of Labor Hero in the renovation period by the State President 

9 / Power plants by renewable energy (non-hydro power) strongly developed. Due to the encouragement mechanism of the Government, by the end of 2020, many renewable energy projects were developed with a total capacity of over 17,000 MW among that ground solar power 16,500 MW, rooftop solar power – 9. 3 MW, wind power – 485 MW and biomass power – 327 MW.

10 / The energy industry accompanied the whole country to overcome the Covid-19 pandemic and unusual natural disasters in history, ensured the energy àd electricity supply to promptly meet the needs of production and life, especially in areas affected by the Covid-19 pandemic, natural disasters, floods and severe landslides.

In that context, the Vietnam Coal and Mineral Industries Group (Vinacomin) faced many difficulties and challenges. However, with the efforts of the employees, the Group successfully completed the plan by ensuring the production and business targets set for 2020.

For the Vietnam Oil and Gas industry, PVN successfully applied a solution to cope with the Covid 19 pandemic and oil price falling with high effectiveness, that helped PVN reduce oil exploitation costs and make the group become one of the rare oil and gas corporations in the world having profits, contributing an important part to the state budget and economic growth rate of the country.


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