Vietnam’s existing 80GW energy grid is powered predominantly by coal and hydropower. As the country continues to experience an influx of high-tech manufacturing, it will require an additional 70GW of new generation capacity over the next decade.
Vietnam is seeking to move away from coal as a power source, and hydropower nearing capacity. New power generation will be dominated by renewables, supported by baseload supply from domestic natural gas and imported LNG. This dual track will enable Vietnam to pursue enhanced energy and climate security and achieve its goal of being net-zero by 2050.
ECV is developing large, integrated multi-phase LNG power projects to support Vietnam’s energy transition. Partnering with Gunvor, the largest independent LNG trader in the world, ECV can ensure the supply of reliable, affordable, US-sourced LNG.