Vietnam targets Net Zero 2050 through CCUS technology development

Vietnam is prioritizing Carbon Capture, Utilization, and Storage (CCUS) technology to achieve its Net Zero emissions goal by 2050. During a recent seminar in Hanoi, experts highlighted that CCUS is essential for decarbonizing energy, industrial, and waste management sectors.

Petrovietnam has conducted preliminary assessments of 34 offshore oil and gas fields for CO2 storage potential. Geological studies indicate significant capacity within three main sedimentary basins: the Red River, Nam Con Son, and Cuu Long, with total storage potential estimated at up to 71 billion tons.

To support this transition, the revised Petroleum Law includes provisions for carbon capture and storage (CCS), establishing a legal foundation for the industry. Experts suggest that the oil and gas sector should lead these efforts by utilizing existing offshore infrastructure and exploring models for shared CO2 transport and storage infrastructure in industrial zones to optimize investment costs.