Vietnam gas markets long-term outlook 2019 Report

Commodity Market Report 24 July 2019

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Report summary

Numerous LNG import projects have been proposed in Vietnam since our last update driven by two factors. Firstly, increased interest in gas to power and secondly, potential gas supply deficits, particularly in South Vietnam. Will this impending supply crunch lead to accelerated development of proven resources or will LNG import projects progress further? Key highlights • PetroVietnam inks a binding HOA with PETRONAS for volumes from PM3 CAA and other fields to feed gas-short Southwest Vietnam Highlights • 10 regas projects proposed. Is now the time for LNG to take off in Vietnam? • PetroVietnam inks a binding HOA with PETRONAS for additional volumes from PM3 CAA and other nearby fields to feed gas-short Southwest Vietnam • Eni strikes gas in Central Vietnam and the development of Sao Vang/Dai Ngyuet sees progress • Gas price reform proposed in the power sector, although we anticipate delays in implementation

Recent developments since the last report
- Continued tensions in the South China Sea weigh down on gas production outlook, presenting opportunities for LNG
- Eni strikes gas in Central Vietnam, near existing Ca Voi Xanh find. However, commercialisation challenging without existing gas market
- PetroVietnam eyes additional gas purchases from PM3-CAA as supply additions from Nam Du and U Minh unable to plug Southwest Vietnam gas deficit
- 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 stakeholders
- Key offices
- Ministries/agencies
- Key Vietnamese companies
- Uncertainties surrounding top leadership in PetroVietnam persists
- PetroVietnam's privatisation drives
Energy policy
- Competition
- Fuel mix
- Pricing
Gas market regulation
- Upstream
- Transmission
- Distribution
Upstream
Midstream and downstream
Gas supply availability
Gas maps
Gas demand overview
Southeast Vietnam
- Southeast Vietnam gas demand (power)
- Southeast Vietnam gas demand (non-power)
9 more item(s)...