Vietnam’s coal imports are forecast to rise to meet domestic production demand, according to a draft strategy for developing the coal industry in Vietnam recently introduced by the Ministry of Industry and Trade (MoIT).
Source: Free Pics
Accordingly, Vietnam will import about 50-83 million tonnes of coal per year during the period from 2025 to 2035, with the volume gradually falling to about 32-35 million tonnes by 2045.
The data from the MoIT shows domestic coal consumption increased rapidly from 27.8 million tonnes in 2011 to 38.77 million tonnes in 2015, and about 53.52 million tonnes in 2021.
The volume of coal consumed at present has more than doubled compared to 2011, mainly for electricity production.
The demand for primary energy, including coal, will continue to increase, possibly peaking in the 2030-2035 period, the ministry said.
Vietnam's coal demand will be around 94-97 million tonnes in 2025, and peak at 125-127 million tonnes in 2030, mainly due to the increase in demand for power generation, and the cement, metallurgy, and chemical industries.
The ministry also predicted that the demand for energy after 2040 will decline due to the energy transition process to meet emission reduction targets.
The coal used for non-energy purposes such as producing nitrogenous fertilizers and chemicals will be encouraged to develop to ensure the sustainable development of the domestic coal industry, it noted.
In the draft strategy, the ministry said by 2030, about 85-90% or 39-42 million tonnes of commercial coal, will be prioritized for power production to ensure national energy security.