LNG suppliers and gas power developers looking at making Vietnam an essential LNG market should not expect to replicate the success of renewable energy seen recently in the country, says new report by the Institute for Energy Economics and Financial Analysis (IEEFA).
Author Thu Vu, Energy Finance Analyst with IEEFA, warns that unresolved regulatory and market obstacles domestically pose serious challenges that will separate enthusiastic project sponsors from the finish line.
Over the past year, Vietnam has quickly emerged as one of the most promising LNG importing markets in Asia.
The global supply glut coupled with favourable conditions on the ground have motivated investors—both domestic and global—to pin their hopes on the rapid scale up of Vietnam’s LNG-to-power sector.
According to the report, interested investors vary by origin, background and expertise in the field.
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