General Director of the Vietnam Oil and Gas Group (PetroVietnam) Le Manh Hung has proposed that PetroVietnam and Norwegian energy firm Equinor promptly build a roadmap to implement their joint offshore wind power and hydrogen production projects in Vietnam during a recent meeting with Equinor Director Anita H. Holgersen in Hanoi.

The 1,330-megawatt Nghi Son 2 Thermal Power Plant in the central province of Thanh Hoa, which can supply electricity to over six million households, has gone on stream.

According to the Ministry of Industry and Trade, coal-fired power will fall some 23,400 MW, and liquefied natural gas (LNG) power more than 24,300 MW while solar power will grow 33,000 MW, onshore wind power 23,000 MW and offshore wind power 28,500 MW by 2045. Therefore, it is necessary for Vietnam to develop policies that encourage investment in clean energies.

Vietnam’s coal imports are forecast to rise to meet domestic production demand, according to a draft strategy for developing the coal industry in Vietnam recently introduced by the Ministry of Industry and Trade (MoIT).

Vietnam will need between US$8 billion to US$14bn each year till 2030 to bring its power network up to date, including developing new power plants and expanding its grid, a minister has said.

Norwegian energy group Equinor ASA (NYSE:EQNR) is keen on collaborating with state-owned Vietnam Oil and Gas Group, trading as PetroVietnam, on clean energy projects and offshore wind in particular.

As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth. Therefore, Việt Nam needs assistance from developed countries regarding both financial and technical issues.

Delegations from Vietnam and the United States met in Washington, DC for the fourth annual United States-Vietnam Energy Security Dialogue on July 26-28.  Vietnam’s Ministry of Industry and Trade Vice Minister Dang Hoang An and the State Department’s Bureau of Energy Resources (ENR) Senior Bureau Official Harry Kamian led the delegations.

ERA, through its subsidiary JERA Asia, is taking a stake in Vietnamese renewable energy producer Gia Lai Electricity Joint Stock Company (GEC).

Vietnam will soon be embarking on a considerable project, costing more than US$100 billion, following the recent approval of plans to reach carbon-neutrality in transport. The government has set out its targets and now requires ministries and partners to come together to develop plans and realize the state’s ambitious, but necessary objectives.