Vietnam Natural Gas: Identify Opportunities for Gas Business Growth in Vietnam

Vietnam Natural Gas: Identify Opportunities for Gas Business Growth in Vietnam  

Thanks to an abundant supply and high calorific value, natural gas significantly contributes to Vietnam's electricity production and industrial manufacturing sectors. In which, thermal power is a key growth driver for Vietnam natural gas market accompanied by the increased electricity demand from FDI investment, population growth, and industrial expansion. Natural gas sector in Vietnam is controlled and managed by PVGas and its subsidiaries.  

Key highlights of this sector preview:  

• Strong and Growing Demand from Thermal Power: Dry gas remained one of the most prominent and efficient natural gas, driven by rising demand for cleaner energy in Vietnam. The demand for dry gas is projected to outgrow supply by 2030, fueled by the increasing needs of power plants, fertilizers, and industrial customers.  

• LNG Infrastructure Boom: LNG became available in Vietnam in late 2023, with the commissioning of the Thi Vai LNG terminal, setting a new market trend. The proposed gas master plan includes 41 LNG terminals for power plants and 5 additional LNG terminals for commercial purposes, currently under construction or in planning stages. 

• Beyond the production stage, there are opportunities for foreign investors in the equipment supplier, LNG infrastructure and gas distribution segments. Investors can explore opportunities in gas distribution networks for industrial and commercial sectors, catering to the projected rise in demand from these areas.  

For the full sector preview, kindly access HERE.     

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