Current situation and solutions to accelerate the implementation of gas projects in Vietnam to effectively exploit domestic resources

Abstract

Ensuring the implementation progress of Vietnam's major gas projects (Block B, Ca Voi Xanh and Ken Bau) with early gas flow to the shore not only provides gas for power projects on time in accordance with the draft National Power Development Master Plan for the 2021 - 2030 period, with a vision to 2045 (draft Power Master Plan VIII), but also maintains the momentum of economic growth and increase revenues for the State budget. Vietnam needs solutions to accelerate the progress of projects to bring gas to shore to ensure energy security (meeting the increasing domestic gas demand), and to convert gas resources into national budget in the trend of energy transition and efficiency of investment capital (for projects having state-owned enterprise’s capital). The article analyses the fluctuation of State budget revenue when gas projects are slow to be put into operation, compares the national benefits of gas extraction projects with LNG import, and thereby recommends solutions to put gas projects into early operation.