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Project Insights

Solar surge puts gas in the shade in Vietnam

LNG-to-power projects in Vietnam are facing tough competition from a subsidy-funded solar boom LNG-to-power projects in Vietnam are facing tough competition from a subsidy-funded solar boom.
By Damon Evans 12 December 2019 Asia Pacific / LNG 0 34874
Dinh Co Gas processing plant, Vietnam. (Petrovietnam)

The key issue: Installed solar power capacity in Vietnam has grown from negligible volumes at the beginning of 2018 to 5.5 GW now, and the technology looks set to compete with LNG-to-power projects.

Interfax analysis: Vietnam is now the leading market for solar power in Southeast Asia, and photovoltaic (PV) technology looks set to be more competitive than proposed LNG-to-power projects. This underscores the rising competition from solar to proposed LNG-to-power schemes across the region.

By 2021, the cost of producing electricity from solar in...