Deputy Prime Minister Bui Thanh Son attends the 8th "Russian Energy Week" Forum

At the invitation of the Government of the Russian Federation, Deputy Prime Minister Bui Thanh Son led a delegation of the Vietnamese Government to visit and work in Russia and attend the 8th "Russian Energy Week" Forum held in Moscow from October 15-17.

Deputy Prime Minister Bui Thanh Son led the Vietnamese Government delegation to attend the "Russian Energy Week" Forum.

This is an annual international forum, started in 2016 under the auspices of the Russian Government, to discuss the main trends of the world fuel and energy industry, identify economic and technological solutions and strengthen international cooperation to respond to challenges and risks and promote the effective and sustainable development of the energy industry.

According to the Organizing Committee, this year's Forum attracted the participation of nearly 5,000 delegates from 80 countries and territories, with more than 70 diverse events held.

On October 15, Deputy Prime Minister Bui Thanh Son, together with Deputy Prime Minister of the Russian Federation Aleksandr Novak, Deputy Prime Minister of Belarus Viktor Karankevich, Secretary General of the Organization of the Petroleum Exporting Countries Haitham Al-Ghais, Secretary General of the Gas Exporting Countries Forum Mohamed Hamel and representatives of several countries' governments co-chaired the first plenary session of the Forum with the theme "Global Energy Market: Transforming Relations and Balancing Interests".

Deputy Prime Minister Bui Thanh Son speaks at the Plenary Session.

Delegates agreed that the energy industry is facing major challenges due to the complex geopolitical situation and increasing tensions in many regions leading to supply chain disruptions, affecting both the consumption market and supply sources and causing many uncertainties.

However, with the world's population growing, possibly reaching 10 billion by 2050, and the world economy expanding, energy demand will continue to increase.

Besides applying new technologies and increasing the use of renewable energy, the demand for traditional energy sources such as oil and gas continues to increase.

Delegates attending the Forum.

In that context, delegates said that diversifying supply sources and markets, ensuring sustainable and stable supply sources and competitive prices is the best way to protect national interests as well as the interests of the global market against pressures from protectionism, restrictive measures or tariff barriers.

Speaking at the Forum, Deputy Prime Minister Bui Thanh Son expressed his gratitude to the Government of the Russian Federation for inviting the Vietnamese delegation to attend this extremely important and meaningful event.

Here, leaders of countries and businesses met and discussed urgent trends in the world energy industry; assessed that today's world is being affected by climate change and depletion of natural resources, requiring the global energy industry to improve the efficiency of resource use, promote research and application of science and technology, reduce emissions in the exploitation, processing and use of traditional energy sources, and develop new green, clean, and highly efficient energy sources.

The Deputy Prime Minister emphasized that energy plays a crucial role in ensuring national energy security while serving sustainable socio-economic development; energy is not just a resource or fuel but is becoming the foundation of peace, development, equity, energy of the future, energy for humanity.

Deputy Prime Minister Bui Thanh Son informed delegates about Vietnam's general goals by 2030, with a vision to 2045, which are to firmly ensure national energy security, provide adequate, stable, high-quality energy, reduce emissions for socio-economic development, ensure national defense and security, improve people's lives, and protect the ecological environment.

Deputy Prime Minister Bui Thanh Son also answered the issue that interested delegates, which was the Vietnamese Government's plan related to expanding infrastructure and improving technical capacity to receive LNG. The implementation and expansion of investment in LNG port infrastructure has been calculated and planned in sync with the progress of gas-fired power plant projects.

Deputy Prime Minister Bui Thanh Son said there will be about 10-14 LNG port warehouse clusters for corresponding gas-fired power plants in all regions of Vietnam; Vietnamese LNG port warehouse and gas-fired power investors are actively implementing, striving to put the plants into commercial operation in the 2028-2030 period.

Vietnam welcomes investors to exchange and share experiences to improve the capacity to develop and operate LNG port infrastructure with companies from Russia and other countries around the world.

THUY VAN

People's Newspaper reporter based in Russia

Source: https://nhandan.vn/pho-thu-tuong-bui-thanh-son-tham-du-dien-dan-tuan-le-nang-luong-nga-lan-thu-8-post915678.html