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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
Vietnam has approved a power plan to boost wind energy and gas while reducing reliance on coal. The plan aims to ensuring energy security while transitioning to be carbon-neutral by mid-century according to Reuters.
- The plan was delayed for more than two years but has been approved by Prime Minister Pham Minh Chinh and now just needs final approval from parliament possibly this month.
- The carbon neutral transition to phase-out coal by 2050 needs up to $658 billion with one-fifth this decade.
- Vietnam's power generation capacity aims to increase to more than 150GW by 2030 from 69GW at the end of 2020. Gas fired power plant installed capacity is set for a fourfold increase from 9GW to 37.33 GW (24.8% of the total) with most from LNG.
- Current natural gas comes from fields in the South China Sea with no LNG imports.
- Vietnam could soon import its first cargo of LNG. There is a tender for a cargo to be delivered to the new Thi Vai terminal around June-July according to ICIS sources earlier this month.
Source: Reuters
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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