An Australian Energy delegation, including HunterNet member companies, will visit Vietnam to meet with the country’s energy industry and to participate in the Vietnam-Australia Energy Forum 2017.
The forum was organised by the Australian Government in collaboration with HunterNet and the Vietnam Ministry of Industry and Trade.
Australian Ambassador to Vietnam, HE Craig Chittick, said Vietnam is an important partner to Australia in the ASEAN region.
“The two nations share a number of common interests, including energy development and security,” Craig said.
“Energy security continues to be an economic priority for Australia and Vietnam. Australia is among the top coal exporters in the world and in future years will be the world’s largest liquefied natural gas (LNG) exporter.
“Coal mining in Australia is an increasingly sophisticated and hi-tech activity. Continuous improvements in mining technology, occupational health and safety and environmental performance have ensured that Australia is an efficient and reliable producer of high quality thermal and metallurgical coal for the international market,” said Janelle Casey, Trade Commissioner for the Australian Embassy.
The cornerstone of the Australian government’s energy policy framework is the delivery of Australia’s energy needs through competitive and well-regulated markets that are operating in the long-term interests of consumers and the nation.
CEO of HunterNet, Tony Cade said the organisation’s members are well positioned to provide world-class services that reflect the sustainable mandate being proposed by the Vietnamese.
“The contribution to the energy sector by HunterNet members cannot be understated. In doing so,we can provide benefits to both countries through complimentary agreements.”
The electricity supply sector in 2014-15 accounted for 28 per cent of Australia’s energy consumption. Coal remains the major source for electricity generation, accounting for 63 per cent of total generation. Natural gas-fired generation accounts for 21 per cent and renewables account for 14 per cent of total generation in Australia.
“Australian companies have contributed to the transformation of the electricity market. This has been achieved through effective market design, enabling technologies, commercial energy solutions and an attractive investment environment. Innovative products and enabling services are meeting the demands for lower emission, alternative technology solutions and providing consumer choices in energy supply,” said Janelle.
Vietnam’s energy consumption demand has been increasing significantly over the last years and this trend is estimated to continue in the coming years. In 2015, the total national energy consumption was around 55 million Tons of Oil Equivalent (TOE). Vietnam’s national energy development strategy up to 2020 – with 2050 vision – has also set the target to ensure the energy sufficiency for the needs of social-economic development, with specific output at around 100 – 110 million of TOE up to 2020, and around 310 – 320 million of TOE up to 2050.
Vietnam has been transitioning from an energy exporter to energy importer to be able to meet the high growth of energy consumption. Previously, Vietnam used to be a large coal exporter with export output of 20 million tons per year at the peak period, however Vietnam imported coal with 10 million tons of coal in 2016. It is projected that this figure will be around 17 million tons of coal in 2020 (accounting for 31 per cent of demand for power generation) and will increase more significantly in the following years. Vietnam is also planning to import LNG for power generation from 2023 and is considering the ability to increase the power import from neighbouring countries, such as Laos PDR.
Vietnam has been developing mechanisms and policies to transit from fossil fuel consumption to clean energy and renewable energy consumption and is working towards a low carbon and environmentally friendly economy. Simultaneously, Vietnam’s power market has also developed, with different levels to gradually enhance the competitiveness and transparency of electricity activities, and create a positive signal to attract investment in developing new power resources.
“Australia’s strengths in the energy sector are in line with the needs of Vietnam in ensuring the energy security as well as protecting the environment. The potential for expanding the two countries’ cooperation in the energy sector is very positive,” said Nguyen Anh Tuan, Director General, Electricity Regulatory Authority of Vietnam, Ministry of Industry and Trade.
At the forum, delegates from the sixteen Australian organisations that represent the Australian energy supply chain will share with Vietnam partners the latest development, experience and technologies in the Australian energy industry.
IMAGE |An Australian Energy delegation, including HunterNet members, will participate in the Vietnam-Australia Energy Forum 2017.
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