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Vietnam cuts back on LNG, coal-fired power projects after net zero pledge, goes long on wind power
Vietnam is looking to reduce the share of fossil fuels, including natural gas and coal, in its future energy mix, while renewables will rise in line with its recent net zero pledge and as securing global funding for fossil fuel projects becomes harder.
The most significant change is the pipeline of new LNG-based power projects being cut by nearly half, dampening expectations that Vietnam will be the next big market for LNG in Southeast Asia and raising questions about the role of gas in Southeast Asia's energy transition.
Tax Incentives for Renewable Energy in Vietnam