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BMI View: Vietnam's self-sufficiency in crude oil and natural gas are set to
come to an end in 2018, as falling production prove increasingly insufficient to
meet rising demand. The start-up of new oil and gas infrastructure over the next
five years will significant expand the country's total refining capacity and LNG
Latest Updates And Key Forecasts
-Binh Dinh province scrapped PTT PCL and Saudi Aramco-led development of the
Nhon Hoi refinery, after the USD20.0bn project failed to take-off following four
years of delays.
-Japan's Tokyo Gas formed an LNG joint-venture (JV), LNG Vietnam, with
state-owned PetroVietnam and private firm Bitexco. The JV will manage all LNG
facilities in the country and oversee procurement and distribution of LNG once
first trade commences in 2018.
-Vietnam is set to become a net importer of both crude oil and natural gas from
2018, due to fallingproduction and rising domestic energy requirements.