News about LNG

On the afternoon of 20/10, the National Assembly discussed in group sessions a draft amendment to the Electricity Law, where Prime Minister Lê Minh Hưng said large investment is needed for power development but electricity prices must stay 'reasonable for the people'. With hydropower at its limit and thermal power restricted by net-zero emissions commitments, the strategy focuses on domestic gas, LNG, solar and wind, though the PM warned that expensive LNG would push electricity prices up. The amendment also aims to simplify investment procedures, as one company spent 10 years on paperwork for an offshore wind project. Power Plan VIII for 2025-2035 has been adjusted to include about 21 LNG projects with 36,000 MW, while total installed capacity reached about 87,600 MW by end-2025. The target is 183,000-236,000 MW by 2030, and the government has directed a review and update of Power Plan VIII to ensure projects are feasible.