Commodity Market Report
Vietnam LNG market outlook
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Report summary
Vietnam is the fastest-growing Asian economy, and the LNG sector presents a major investment opportunity for infrastructure development. Increasing domestic gas supply and the LNG affordability issue constrain LNG demand to around 1.4 mmtpa in 2030, but demand will increase substantially from the mid-2030s by improving LNG’s competitiveness in the long run. PDP 8 emphasises LNG-to-power projects, targeting to add 22,400 MW LNG-fired capacity by 2030. However, LNG’s affordability concerns and the lack of enabling government policies affect the development pace of such LNG import and LNG-to-power projects. Read more on our in-depth analysis of Vietnam's LNG market, including: LNG market outlook LNG Infrastructure LNG prices Market structure and policies
Table of contents
- Vietnam is the fastest-growing Asian economy, and the LNG sector presents a significant investment opportunity for infrastructure development
- We expect LNG demand to increase, but the ramp-up will be minimal in the short to medium term
- Policy reforms and favourable pricing mechanisms will be required to unlock LNG demand
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