Ministry proposes adjustments to energy planning to support double-digit growth

Ministry proposes adjustments to energy planning to support double-digit growth

Việt Nam has raised its economic growth target to double-digit growth during 2026–30, which has altered energy demand projections and requires revisions to the national energy plan to safeguard energy supply for the economy.

A wind and solar farm of Trung Nam Group in Khánh Hòa Province. The Ministry of Industry and Trade has proposed adjustments to the national energy master plan for 2021-30 period with a vision to 2050 to ensure sufficient energy supply for Việt Nam’s socio-economic development. — VNA/VNS Photo Đặng Tuấn

Việt Nam is updating its national energy master plan for 2021-30 with a vision to 2050, as rising economic growth targets, planning changes and rapid technological advances make adjustments necessary to ensure the country has sufficient energy to support its socio-economic development.

The Ministry of Industry and Trade said the nation has raised its economic growth target to double-digit expansion during 2026–30, altering energy demand projections and requiring revisions to the national energy plan to safeguard the economy’s energy supply.

Other changes affecting the plan include national marine spatial planning, the revised national masterplan, the adjusted power development plan (PDP8) and administrative boundary adjustments following provincial mergers, all of which influence the scale and spatial structure of energy planning.

Rapid advances in science and technology are also reshaping energy planning in line with the Politburo’s Resolution 57 dated December 22, 2024, on developing science and technology, innovation and digital transformation. The resolution sets tasks for developing energy infrastructure, especially new and clean energy, while ensuring energy security for strategic industries.

Under the draft plan, which has been made public for feedback, the ministry emphasises the importance of national energy security, with supply expected to meet demand to support a minimum average GDP growth of at least 10 per cent during 2026–30.

Total final energy demand is projected at around 120–130 million tonnes of oil equivalent (toe) by 2030 and 175–200 million toe by 2050. Petroleum reserves, including crude oil and refined products, are proposed to rise to the equivalent of about 90 days of net imports by 2030.

The draft highlights the country’s energy transition, with renewable energy expected to account for 25–30 per cent of total primary energy supply by 2030 and 70–80 per cent by 2050. Energy savings are targeted at 8–10 per cent of total final consumption by 2030 compared with a business-as-usual scenario.

Greenhouse gas emissions are projected to fall by 15–35 per cent by 2030 compared with the baseline, with energy-sector emissions estimated at 433–474 million tonnes of CO2 equivalent in 2030 and around 101 million tonnes by 2050.

Crude oil output during 2026–30 is projected at 5.8–8 million tonnes a year, while natural gas production is expected to reach 5.4–11 billion cubic metres annually. The ministry also plans to enhance liquefied natural gas (LNG) import capacity to support gas-fired power plants and create LNG-based energy hubs across regions.

The draft outlines plans to develop renewable and new energy industries, aiming to turn Việt Nam into a regional clean energy industrial hub and exporter, with clean energy centres established in the northern, south-central and southern regions. Green hydrogen production capacity is targeted at 100,000–200,000 tonnes a year by 2030, with a long-term vision of 10–20 million tonnes annually by 2050.

Renewable energy is expected to provide 30.9–39.2 per cent of electricity production by 2030, moving toward 47 per cent with strong international support under the Just Energy Transition Partnership (JETP), and reaching 67.5–71.5 per cent by 2050.

The draft also aims to develop two inter-regional renewable energy industrial and service centres by 2030 and export 5,000–10,000 megawatts of electricity. 

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