Vietnam's gas demand expected to triple by 2030

From current consumption levels, Vietnam’s gas demand is forecast to increase by an average of 12% per year and triple by the mid-2030s. This puts great pressure on the energy sector, especially in the context of a significant decline in domestic supply from existing gas fields, with a 25% decrease over the past five years.

Increased production for export drives up Vietnam's energy demand

According to data from Wood Mackenzie, manufacturing accounts for more than 80% of Vietnam's exports and Vietnam has been in trade surplus since 2012, with the export ratio increasing significantly in recent years. According to experts from Wood Mackenzie, manufacturing is one of the main reasons driving Vietnam to achieve this trade surplus.

In addition, the data also shows that Vietnam's main export markets include ASEAN, the EU, Japan, South Korea, China, the US and several other regions. This diversity in trade relations emphasizes the role of international partners in maintaining trade flows and promoting exports. At the same time, this also makes Vietnam's energy demand increasingly high.

Wood Mackenzie's report forecasts that Vietnam's gas demand will not only increase sharply in the 2030s but will continue to grow steadily until 2050. The electricity sector is expected to continue to be the largest gas consumer with 14% of electricity output expected to be supplied from gas by 2030, accounting for the majority of energy demand. By 2050, the electricity sector will still be the largest source of gas consumption to maintain a stable electricity supply for the whole country.

In addition, the development of industry and fertilizers also contributes greatly to the increasing demand for gas, especially in the context of these industries constantly expanding.

Source: https://thanhnien.vn/nhu-cau-ve-khi-dot-cua-viet-nam-du-kien-tang-gap-ba-lan-vao-nam-2030-185240918192926753.htm