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Vietnam-Australia Energy Roundtable 2018 set

Released at: 19:14, 21/05/2018

Vietnam-Australia Energy Roundtable 2018 set

Australia is famous with creative and advanced solution in recycle energy. Photo: Embassy of Australia

Roundtable to take place on May 22 in Hanoi and strengthen energy cooperation between two countries.

by Le Diem

The Vietnam-Australia Energy Roundtable 2018 is being organized in Hanoi on May 22 by the Australian Government in partnership with the Ministry of Industry and Trade to share the experience of the Australian Government and the country’s industry in meeting energy development needs and challenges.

An Australian energy delegation is visiting Vietnam to meet with the country’s energy industry and attend the roundtable. The delegation includes leading engineering, procurement and construction contractors, technical and equipment suppliers, coal suppliers, and end-to-end project management and commercial consulting companies. They will showcase Australia’s expertise and capability in coal (including clean coal), infrastructure, consultancy, project management and technology, and innovation, including in renewable energy. The priorities of the Vietnamese Government, major energy projects in the country, and opportunities for cooperation will also be presented to the delegates.

“Australia’s trade and investment relationship with Vietnam has been the fastest growing of all ASEAN economies over the past decade, with two-way trade and investment now standing at $11.8 billion,” said Mr. Shannon Leahy, Trade Commissioner at the Australian Embassy. “Energy is one of the key sectors driving bilateral trade.”

Vietnam is Australia’s 15th largest trading partner and Australia is Vietnam’s seventh largest.

Australia’s energy supply chain is well developed, with advanced solutions for coal, gas, and renewable energy. Australia also has leading policy experience through the development and regulation of energy markets. Australia’s experience and strengths are in line with Vietnam’s needs to ensure both energy security and the sustainable development of its energy industry. With large reserves of mineral and energy resources, Australia is a world-leading producer of coal, gold, iron ore and uranium, and will soon be the world’s largest liquefied natural gas (LNG) exporter. It is also ranked among the world’s Top 15 countries in solar and wind generation. Its abundant resources and proximity to Asia underpin its advantageous position as a major global exporter of mineral and energy resources.

This year’s Energy Roundtable follows a successful Australian energy forum held in 2017, where a policy dialogue was opened up between the Australian Energy Regulator and the Electricity Regulatory Authority of Vietnam, assisting Vietnam to enhance the competitiveness and transparency of its power market, with the aim of creating a positive signal to attract investment in developing new power resources.

In its power development plan, coal occupies the dominant position in the energy mix and exceeds the supply capabilities of the domestic coal industry. The need for cheap and reliable energy to fuel economic growth will ensure coal remains an important part of the energy mix for Vietnam going forward.

“Continuous improvements in mining technology, health and safety, and environmental safeguards have ensured that Australia is an efficient and reliable producer of quality, low emissions coal,” said Mr. Leahy. “As it transitions both to cleaner coal and renewable energy solutions, Australian industry stands ready to collaborate and assist.”

The Australian Government and the country’s industry and research institutions are positioning the country for its energy future, working towards the goal of increasing its renewable energy resources within the national energy mix. Wind and solar continue to grow as a share of Australia’s energy supply, easing pressure on its grid and contributing to a cleaner carbon footprint.

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