Vietnam has been increasingly relying on liquefied natural gas (LNG) imports to meet its energy needs. As of recent data, LNG imports are expected to make up about 14.9% of Vietnam’s primary energy mix by 2030. This shift is part of Vietnam’s strategy to reduce its dependence on coal and move towards cleaner energy sources. As of 2023, Vietnam's electricity consumption is heavily reliant on fossil fuels, with almost 60% of its electricity coming from these sources.
Due to the Russia-Ukraine situation, fuel price has increased. Power in Vietnam is highly dependent on fossil fuels, with research (*1) showing Vietnam's CO2 emission as 3.7 times the average.
The Vietnam government has declared to achieve carbon neutrality by 2050 and reduce its costs for importing fuel. The country must gradually reduce its dependence on imported natural gas and make a change to low-carbon energy technologies.