Vietnam calls for international investments in LNG industry development

10:54 | 08/11/2017 Energy

At the Sixth International Conference on production and consumption of liquid natural gas (LNG) in Tokyo (Japan), the Minister of Industry and Trade of Vietnam Tran Tuan Anh put forward “5 opportunities” and “5 challenges” in the development of LNG industry in Vietnam to call for foreign and domestic enterprises to cooperate for investing in LNG in Vietnam.

Photo: MoiT/baocongthuong

The 2017 International Conference on LNG production and consumption was held with participation of the Ministers of Energy of 14 countries, Representatives of international organization on LNG and over 1000 businessmen from more than 30 nationalities (accounting for 60% of export and 70% of import of LNG demand in the world).

In opening speech, Japanese Minister Seko Hiroshige pressed the rapid growth and change along with the opportunities and challenges of the LNG market in the world. To affirm the leading role of Japan in expanding LNG market in Asia, Mr. Seko Hiroshige stated the participations of the Japanese government in Asia LNG market development including “ 2 contributions” as a fund of US$ 10 billion (including LNG infrastructure development) and training 500 experts on LNG production and consumption within the five years; and “3 commitments” as to companion with the other countries in Asia LNG market development, putting forward the action program to create LNG demand by means of breakthrough measures, and promoting the role in building international consensus on common interests for LNG market development through the activities of the bilateral and multilateral dialogues.

Minister of Industry and Trade Tran Tuan Anh speaks at the conference - Photo: MoiT/baocongthuong

Speaking at the conference, the Minister of Industry and Trade Tran Tuan Anh mentioned the policy of Vietnamese government on strengthening to use renewable and clean energy, especially LNG for power generation.

Based on an analysis of current situation and trend of LNG market development of Vietnam, Mr. Tran Tuan Anh presented “5 opportunities” and “5 challenges” in Vietnam’s LNG industry to call for the foreign and domestic enterprises to cooperate in LNG market development in Vietnam.

On the sidelines of the conference, Mr. Tran Tuan Anh also had meetings with business representatives from countries attending the conference, and in particular held a bilateral meeting with Minister Seko Hiroshige.

At the meeting two Ministers discussed the cooperation mechanism between Vietnam and Japan on LNG development in particular and energy in general.

Two Ministers agreed to accelerate the energy projects invested by Japanese fund in Vietnam, and discussed multilateral trade agreements that Vietnam and Japan have jointed as well as the activities toward to the APEC Summit in early November in Da Nang city.

Theo Vietnamenergy