Tuesday , February 27 2024

Vietnam needs $11.4B to build fuel storage infrastructure

Vietnam needs to invest VND270 trillion ($11.42 billion) by 2030 to develop infrastructure for gas and oil storage.

It plans to have infrastructure to store at least 75-80 days’ requirements of petroleum products and crude oil, preferably 90 days’.

It wants to build 500,000 cubic meters of crude oil storage by 2030.

It seeks to build 59 new storage facilities to hold petroleum products to add to the 89 currently in use, and together they will have a capacity of 5.1 million cubic meters.

After 2030 it will install around 580 kilometers of fuel pipelines, including to transport jet fuel from Ho Chi Minh City, Dong Nai and Ba Ria-Vung Tau to the Long Thanh International Airport.

Other projects in the works include a liquefied natural gas storage facility each at the Cai Mep Industrial Zone in Ba Ria-Vung Tau Province and Nam Dinh Vu Industrial Zone in Hai Phong City.

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