A reality check on Vietnam's coal demand story Report

Insight 25 January 2019

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Report summary

The growing focus on how energy consumption is affecting the environment is challenging coal’s status in the fuel mix in Asia. As Southeast Asia surfaced to drive the long term growth in coal imports on the back of its high power demand growth, public opposition to new coal power projects is stronger than ever. A highlight of our recent trip to Vietnam was a discussion with industry participants about policy dilemmas amid stricter climate regulations and economic growth. This insight aims to clarify several misleading claims, and provide a fundamental view of a supply deficit market like Vietnam.

Executive summary
- "Government priority no longer favours coal-fired power development"
- "We do not need to build new coal-fired plants if renewables are getting cheaper"
"Financiers have already quit coal power"
- "Vietnam has large coal resources so imports growth is an illusion"
- "Infrastructure will be a bottleneck for Vietnam's imports"
Conclusion

Tables and charts

This report includes 4 images and tables including:

Levelised cost of electricity (LCOE) for Vietnam, US$/MWh
Location of coal mines, key power stations (including planned) and ports in Vietnam
Coal resource by region
Coal resource by category