Vietnam Oil and Gas Market Report 2018-2032: Field-Wise Production, Refining, LNG, Pipelines, and Strategic Supply-Demand Analysis

The "Vietnam Oil and Gas Strategic Analysis and Outlook to 2032" offers a deep and structured evaluation of one of Southeast Asia's most strategically positioned and rapidly evolving energy markets. As Vietnam works to balance energy security, economic growth, and decarbonization, its oil and gas sector remains pivotal. The report provides a detailed analysis of the entire value chain-from field-level upstream production and offshore exploration to LNG terminals, refinery-level processing, pipeline networks, storage infrastructure, and petroleum product flows-spanning the historical period from 2015 and forecasting through 2032.

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The report highlights Vietnam's upstream maturity in regions like the Cuu Long and Nam Con Son basins, where state-run PetroVietnam and international partners including ExxonMobil, Rosneft, and PTTEP operate key offshore blocks. With declining output from legacy fields, the focus is shifting to brownfield redevelopment, deepwater potential, and enhanced recovery. Midstream infrastructure, particularly gas pipelines and storage tied to the Nam Con Son system, is being expanded alongside LNG import facilities such as the Cai Mep terminal to supplement gas-fired power growth. In the downstream sector, Vietnam's major refineries-Dung Quat and Nghi Son-support part of national fuel demand but face challenges related to product quality, capacity limits, and import dependency. The report also examines Vietnam's long-term plan to add over 18 GW of gas-fired power capacity by 2030 and its first steps toward emissions trading, LNG diversification, and energy transition regulation.

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Report Key Takeaways -
Detailed asset-level mapping of Vietnam's offshore oil and gas fields, pipelines, refineries, LNG terminals, storage tanks, and shipping routes.

Analysis of EnQuest's entry into Vietnam via Chim Sao and Dua field acquisition, marking renewed investor interest in maturing offshore blocks.

Development of Nam Du and U Minh gas fields by Jadestone to strengthen domestic supply and reduce LNG dependency.

Commissioning of the Cai Mep LNG terminal to increase gas import flexibility and underpin new gas-fired generation.

Signed agreements with U.S. energy firms to modernize infrastructure and ensure LNG import diversity and resilience.

Introduction of Vietnam's pilot carbon market framework and emissions tracking-critical steps toward long-term sustainability alignment.

Continued short-term reliance on coal, with over 30% import growth in 2024, signaling transitional challenges in the power sector.

Infrastructure delays potentially impacting Vietnam's 1.5 GW gas-fired capacity target for 2025 and overall energy reliability.

Expansion of LNG and pipeline systems essential to meet Vietnam's 2030 gas-fired generation target of 18 GW.

Sector-wide push for sustainability integration, including emissions pricing, carbon reporting, and greener energy planning.

This report is a vital tool for upstream operators, LNG suppliers, infrastructure developers, policy planners, and energy investors looking to understand Vietnam's evolving oil and gas market. It captures both near-term challenges and long-term opportunities within one of Asia's most dynamic energy transition frontiers.

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