Energy security plays a vital role in Vietnam’s industrialization and modernization and national rapid and sustainable development.
Government’s drastic management
Prime Minister Pham Minh Chinh on Sunday chaired a conference with nine provinces, which have the circuit 3 of the 500kV line project running through, to speed up the construction progress. The project stretches more than 220km from the central province of Quang Binh to the northern province of Hung Yen, with an investment of nearly 1 billion USD.
It plays a particularly important role in national energy security, strengthens the capacity of the North-Central 500kV transmission grid, and helps ensure power supply for the north now and in the future.
Prime Minister Pham Minh Chinh said, “This national project requires the involvement of many ministries, sectors, and localities. It is the responsibility of the political system to ensure sufficient power for production and daily consumption. The project is scheduled to complete on June 30. There is a large amount of work to do in many localities. But the greater the pressure, the more determination we have and the more drastic actions we take to complete our task.”
Since the middle of last year, the Government issued a number of documents requiring the power sector to ensure energy sufficiency in all situations.
The Prime Minister has approved the National Energy Master Plan, National Electricity Development Planning, and National Petroleum and Gas Reserve and Supply Infrastructure Planning for the 2021-2030 period and vision to 2050, and a Resolution on electricity supply solutions in 2024 covering power source, power grid, power savings, and power price.
Focusing on energy transition, ensuring energy security
Domestic energy demand is increasing while the supply of traditional energy resources, such as coal, oil, and gas is gradually exhausted.
To implement its commitment on energy security and the national energy vision, Vietnam sets the goals for green energy development, reducing greenhouse emissions, and achieving net zero emissions by 2050, as committed at COP26. Vietnam has boosted energy transition by generating more wind and solar energy.
At a meeting with the Ministry of Industry and Trade on removing difficulties and obstacles for the gas power and offshore wind power projects on January 25, Deputy Prime Minister Tran Hong Ha said that the Government has assigned the related ministries and energy corporations to review the entire investment procedures of LNG power projects, including the Government’s principled long-term commitments to investors, and make proposals to simplify investment procedures.
The Ministry of Industry and Trade was asked to pilot a project to clear difficulties for LNG and wind power projects. Deputy PM Ha said, “The Ministry of Industry and Trade will survey offshore wind power resources in potential areas. When the results are available, investors will be selected.”
Deputy PM Ha said that after having data, some Vietnamese state-owned corporations will be assigned to host and authorized to select foreign investors to carry out the project.
Anh Huyen
