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Tuesday, July 16, 2024

Vietnam to import 20 million tons of coal from Laos every year

The Saigon Times

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HCMC – Vietnam will purchase around 20 million tons of coal from Laos annually in the next five years to ensure national energy security, according to the VnExpress news site.

The Ministry of Industry and Trade of Vietnam and the Ministry of Energy and Mines of Laos yesterday afternoon, July 20, signed a memorandum of understanding (MOU) on cooperation in the coal sector for five years.

As per the MOU, Vietnam plans to import about 20 million tons of coal per year from Laos, depending on market demand and the country’s conditions.

The MOU signing is expected to facilitate the energy transition and ensure energy security in Vietnam, as well as support Laos in exploiting and promoting the potential of the coal sector.

Laos has been an essential supplier of coal, ores and minerals to Vietnam in recent years. Vietnam imported 1.8 million tons of ores and minerals worth US$78.2 million from this country in 2022.

In the first half of 2023, Vietnam spent around US$31.6 million buying 900,000 tons of ores and coals from Laos.

The two countries have also carried out many investment and cooperation projects in the energy sector, such as hydropower projects and transmission grids from Laos to Vietnam.

Notably, the Vietnamese prime minister has recently approved the proposal to import electricity from various energy projects in Laos, with a total capacity of 2,689 MW.

The country has several 220kV power transmission lines connecting with this neighboring country.

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