Vietnam moving from energy exporter to importer: workshop

Vietnam’s energy demand has increased rapidly over the last 15 years, with a commercial energy growth rate of about 9.5% each year. It is forecast to continue rising strongly in the next 15 years. 

The country’s electricity consumption demand grew about 13% annually from 2006 to 2010 and 11% each year between 2011 and 2016.

In 2015, total energy consumed nationwide was estimated at 55 million tonnes of oil equivalent. Under the national energy development strategy until 2020 with a vision to 2050, Vietnam aims to produce and import 100-110 million TOEs of primary energy by 2020 and 310-320 million TOEs by 2050 so as to meet socio-economic development demand.

The country plans to import around 17 million tonnes of coal, or 31% of the coal needed for electricity generation, in 2020, the workshop heard.

At the event, organised by the Ministry of Industry and Trade, the German Embassy in Vietnam and Siemens group, Deputy Minister of Industry and Trade Hoang Quoc Vuong said the two countries have strongly cooperated in renewable energy, energy saving and power transmission over the past years. 

Notably, the German Government has supported its Vietnamese counterpart in developing wind power projects through official development assistance.

The countries are set to strengthen cooperation in sustainable energy in the time ahead, especially wind and solar power, smart power grid, energy storage and science-technology research.

He added to develop the sustainable energy sector, Vietnam needs cooperation and assistance from the international community, particularly development partners that are strong in finance, science-technology and management.

It always highly values the potential and prospect of cooperation in sustainable energy with Germany, Vuong said, adding that his ministry is ready to share information and promote cooperation opportunities in the energy sector on the basis of respecting mutual benefits.

Wolfgang Manig, Chargé d’ affaires of the Germany Embassy in Vietnam, said his country has assisted Vietnam in sustainable energy promotion and efficient energy use through bilateral cooperation programmes and the private sector’s engagement.

He added Germany is willing to share experience it has gained in energy conversion. Together with strong partners like Vietnam, Germany is taking the lead in working towards reducing carbon emissions in the economy, which is essential amid climate change.