Commodity Market Report

Vietnam Gas Markets H1 2020 long-term outlook

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02 October 2020

Vietnam Gas Markets H1 2020 long-term outlook

Report summary

The addition of coal-fired powerplants will keep gas demand for power in Vietnam flat until 2023. Power accounts for 67% of the country's gas demand. From 2024 onwards, gas demand for power is expected to grow at whopping 11.3% y-o-y, on average. However, Vietnam's gas market is supply constrained and risks gas shortages over the next few years. The development of Blocks B&52, in Southwest Vietnam, will only materialize later in the decade. In the Southeast region, LNG will help offset domestic gas production decline. In Central Vietnam, far from the gas demand centres, two large gas discoveries, Ca Voi Xhan and Ken Bau, are the most significant gas discoveries in the country. This report presents Wood Mackenzie's view of Vietnam's gas market including our latest supply-demand balance, policy and regulation, gas infrastructure, market structure and gas prices.

Table of contents

  • Growing gas demand will drive development of non-disputed offshore areas
  • No end in sight for tensions in the South China Sea
  • Expect further delay in the Ca Voi Xanh (CVX) development
  • Jadestone’s Nam Du and U Minh field development delayed amid coronavirus chaos
  • Environmental concerns and geographical constraints favour gas over coal plants
  • Uniform gas price in power sector set to level playing field between piped gas and LNG-fuelled plants
  • Power and renewables report
  • Climate policy
  • Renewable energy target
  • New policy to streamline public-private partnership processes
    • Key offices
    • Ministries/agencies
    • Key Vietnamese companies
    • PetroVietnam's privatisation drives
    • Competition
    • Fuel mix
    • Pricing
    • Upstream
    • Transmission
    • Distribution
  • Gas supply availability
  • Gas maps
    • Southeast Vietnam gas demand (power)
    • Southeast Vietnam gas demand (non-power)
    • Southwest Vietnam gas demand (power)
    • Southwest Vietnam gas demand (non-power)
    • North Vietnam gas demand (power)
    • North Vietnam gas demand (non-power)
    • Central Vietnam gas demand
    • North Vietnam gas balance
    • Central Vietnam gas balance
  • Upstream gas prices
  • Current gas pricing trends
    • Power sector
    • Fertiliser
    • Industry
  • Gas price forecast

Tables and charts

This report includes 42 images and tables including:

  • Vietnam regional summary
  • GDP forecast
  • Total potential gas supply available: Vietnam
  • Vietnam gas supply sources
  • Southeast Vietnam gas pipelines and fields
  • Southwest Vietnam gas pipelines and fields
  • North Vietnam gas pipelines and fields
  • Vietnam gas infrastructure
  • Vietnam total gas demand
  • Southeast Vietnam total gas demand
  • Power sector gas users
  • Southwest Vietnam total gas demand
  • Power sector gas users
  • Central Vietnam total gas demand
  • Current gas pricing: key upstream gas contracts
  • Vietnam end-user gas pricing against fuel oil
  • Gas price outlook to 2040
  • Vietnam’s energy policy and regulatory structure
  • Major energy legislation
  • Vietnam gas market value chain
  • Vietnam gas reserves: top 20 reserve holders*
  • Non-power gas users
  • Industry sector gas users
  • North Vietnam total gas demand
  • Power sector gas users
  • Industry sector gas users
  • Power sector gas users
  • Vietnam gas supply demand gap
  • Vietnam gas balance
  • Southeast Vietnam supply demand gap
  • Southeast Vietnam gas balance
  • Cuu Long gas pipeline
  • Nam Con Son gas pipeline
  • Southwest Vietnam supply demand gap
  • Southwest Vietnam gas balance
  • PM3 CAA-Ca Mau gas pipeline
  • Block B-to-O Mon (or Kim Long) gas pipeline
  • North Vietnam supply demand gap
  • North Vietnam gas balance
  • Central supply demand Gap
  • Central Vietnam gas balance
  • Vietnam gas price to end-users

What's included

This report contains:

  • Document

    Vietnam gas data H1 2020.xlsx

    XLSX 440.92 KB

  • Document

    Vietnam Gas Markets H1 2020 long-term outlook

    PDF 6.72 MB