On January 16, 2017, the Prime Minister issued the Decision No. 60/QD-TTg on approving the plan for development of gas industry of Vietnam by 2025 with the vision to 2035, Invest in development of the gas industry sector with all stages which are organized in a complete and uniform manner, including extraction – gathering – transport – processing – storage – distribution of gases and import and/or export of gas products across the country; ensure that gas production produced from blocks/gas fields of PVN and oil and gas contractors operating in Vietnam is fully gathered.
In particular, in the period 2016 – 2020, strive to achieve the gas production volume across the country in the period 2015 – 2035 such as in 2016 – 2020 period: The expected volume of gas production is 10 – 11 billion m3/year; in 2021 – 2025 period: The expected volume of gas production is 13 – 19 billion m3/year; in 2026 – 2035 period: The expected volume of gas production is 17 – 21 billion m3/year. In terms of import and distribution of LNG, carry out market research and discovery activities, and speed up construction of storage facilities and ports to get ready for receipt and import of LNG to reach targets set out in periods such as in 2021 – 2025 period: The volume of gas to be received and imported is 1 – 4 billion m3/year; in 2026 – 2035 period: The volume of gas to be received and imported is 6 – 10 billion m3/year. In terms of development of gas consuming markets, keep on developing the electricity market to make it become the main market for gas consumption (including imported LNG) which accounts for a proportion of approximately 70 – 80% compared with total gas production.
In order to achieve above targets, this Decision emphasizes the solutions on Management structure; Investment; Finance and financing arrangement; Market; Science and technology; Human resource development; Safety, environment and sustainable development; National defense and security..Within that, carry out complete transformation of the model of management of Vietnam’s gas industry which is oriented towards the free gas market for the post-2020 period, gradually move towards the objective in which the Government only administers operations of the gas industry by means of legislative document system, and market participants are granted autonomy to negotiate commercial agreements, gas sale, purchase, transportation and business contracts; establish rational gas market price policies with assurance that interests of the Government, enterprises and consumers are all duly respected…
This Decision takes effect on the signing date.
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