07:35 (GMT +7) - Thursday 24/05/2018

Vietnam Today

Possibilities for energy cooperation between Vietnam & Australia

Released at: 09:44, 24/05/2017

Possibilities for energy cooperation between Vietnam & Australia

Photo: baocongthuong.com.vn

Australia's strengths in coal and gas could help Vietnam ensure energy security, Deputy Minister of Industry and Trade tells May 23 forum.

by Uy Vu

An energy forum co-organized by the Ministry of Industry and Trade and the Australian Embassy was held in Hanoi on May 23.

The forum served as an opportunity to provide Australia with insight into the actual situation in Vietnam’s energy industry and help domestic firms explore the possibility of cooperation with Australian partners, since energy security is a priority of both the Vietnamese and Australian Governments and the two countries have been enhancing their partnership in industry, education and training, and energy research.

Representatives from Australian agencies, organizations, and businesses shared their experience and the latest energy technologies.

Deputy Minister of Industry and Trade Ho Thi Kim Thoa was quoted by the Vietnam News Agency as telling the forum that Australia’s strengths in the fields of coal and gas and modern technologies could help Vietnam ensure its energy security and protect the environment. The two countries therefore have great potential for cooperation in the field, she believes.

Ms. Janelle Casey, Commercial Counsellor at the Australian Trade and Investment Commission (Austrade), expressed her hope that through the forum the two sides would understand more about cooperation opportunities and bolster links in energy, trade, and investment.

A report released by the Ministry of Industry and Trade showed that commercial electricity generation growth has been on the rise over the last 15 years. Demand for electricity also increased strongly, by 13 per cent in 2006-2010 and 11 per cent over the last five years. It is estimated that the country’s electricity demand will grow about 10 per cent in the next decade.

To ensure energy security, Vietnam has moved from being an energy exporter to an energy importer. It is projected to import 17 million tonnes of coal in 2020, accounting for 31 per cent of coal demand to generate electricity.

It is also considering the possibility of increasing electricity imports from neighboring countries such as Laos.

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