Concerted measures needed to ensure energy security
Vietnam needs to take concerted measures to ensure national energy security, experts said at a conference on the role of the oil and gas sector in ensuring energy security held in Hanoi on July 18.
An oil platform at Bach Ho oil field in Ba Ria-Vung Tau province (Source: VNA)
Hanoi (VNA) – Vietnam needs to take concerted measures to ensurenational energy security, experts said at a conference on the role of the oiland gas sector in ensuring energy security held in Hanoi on July 18.
According to theVietnam Petroleum Institute (VPI), the country’s energy demand will grow by 5.1percent a year in the 2016-2025 period and 4.2 percent for 2026-2035.
Deputy head of the VPINguyen Hong Minh and Chairman of the Vietnam Oil and Gas Group’s Member CouncilTran Sy Thanh stressed the need for a clear financial mechanism for oil and gasexploration and exploitation activities.
Along with measures toboost energy saving, increasing national reserves is extremely important,participants in the conference emphasised.
It is also necessaryto step up the exploration of energy sources, improve domestic production ofsecondary energies, expand the use of alternative and renewable energies, andbuild a regional energy security cooperation mechanism, they stated.
Former Trade MinisterTruong Dinh Tuyen affirmed that energy security has huge impact on food andfinance security.
Therefore, thePetroleum Law should be revised as soon as possible to facilitate thedevelopment of the sector, he suggested.
Participants alsoscrutinized the need to ensure the national energy security on the basis ofstudying chances and challenges of the oil and gas sector in Vietnam, andproposed solutions for the work in the time to come, especially in the currenttrend of developing renewable energy.-VNA
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An oil platform at Bach Ho oil field in Ba Ria-Vung Tau province (Source: VNA) 
