Imported energy will increase in the future

December 18, 2017 | 17:23

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The trend on increasing imported energy in the next few years is causing concerns for the domestic energy market as well as socioeconomic development.

Over 300 delegates participated in the seminar "Energy Economics and Prospects"

Speaking at the seminar on December 14, titled “Energy Economics and Prospects,” the Vietnam Energy Association (VEA)'s vice chairman Nguyen Van Vy said that the trend of increasing energy imports causes many concerns, including rising costs and the country becoming dependent on foreign energy markets.

According to VEA, the rate of imported energy will increase in the next few years. Specifically, the rate of imported energy will increase by about 10 per cent in 2018. This figure in 2020 will be over 20 per cent.

Vy also added, “Domestic gas resources are being depleted, while the demand for gas keeps increasing, leading to a rising demand for imported gas energy.”

According to Vietnam’s renewable energy development strategy to 2030, with vision to 2050 approved by the prime minister, energy imports in 2015 were 2.7 million tonnes of oil equivalent (TOE), accounting for 3.5 per cent of total primary energy demand.This figure will increase to about 47 million TOE and 24.3 per cent by 2030.

In the absence of renewable energy development, energy imports will be very high. Imported energy in 2030 will be 78.7 million TOE, accounting for 41.1 per cent of the total primary energy demand. This figure will be 129 million TOE in 2050, accounting for 41.2 per cent of the total primary energy demand.

Besides, the seminar also discussed the energy management of Vietnam’s industrial enterprises. Speaking at the seminar, Duong Trung Kien, Electric Power University’s dean of Energy Management, revealed that domestic industrial enterprises’ energy management remains at an average level, despite the law on energy saving and efficiency having been in effect for over six years.

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