Joint Statement on United States, Japan and Vietnam Cooperation to Support Vietnam’s Energy Transitions Through LNG Utilization

Media Note

December 7, 2020 

The text of the following statement was released by the Governments of the United States of America, Japan and Vietnam on the occasion of the 2020 Trilateral Vietnam-U.S.-Japan Commercial Liquefied Natural Gas (LNG) Forum.

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The Department of State of the United States, the Ministry of Industry and Trade of Vietnam, and the Ministry of Economy, Trade and Industry of Japan acknowledge the following: 

·       the importance of a realistic and pragmatic energy policy that utilizes all energy sources and all technologies for achieving both the goal of economic recovery and private sector-led growth following the COVID-19 pandemic, and the goal of reduction of greenhouse gas emissions; 

·       the essential role of Liquefied Natural Gas (LNG) in improving energy supply security, reducing air pollution, and supporting the gradual transition towards a low carbon future in Vietnam; 

·       the fact that the energy transition in Vietnam is focusing not only on shifting from fossil fuels to renewables, but also to affordable, reliable, flexible, and resilient cleaner energy options and technology that would also contribute towards a post-pandemic economic recovery; 

·       the importance of cooperation between Japan and the United States in Vietnam, especially, under the concept of the Japan-U.S. Strategic Energy Partnership (JUSEP); 

·       the value of the contributions LNG projects approved in the Power Development Plan 7 revised, as well as LNG power projects being considered for Vietnam’s Power Development Plan 8 (PDP8), will make towards Vietnam’s energy transition. 

The Department of State of the United States and the Ministry of Economy, Trade and Industry of Japan are aware of the importance of the following, which would promote Vietnam’s energy transition through an approach that would balance the goals of strengthening energy security, addressing the global climate issues, and promoting economic growth by: 

·      supporting LNG to Power and LNG Terminal projects in Vietnam, in which companies of Japan, the United States, and Vietnam participate and have access to the financial tools of Japan and the United States; 

·      exchanging information on the content and implementation of essential policies related to LNG, such as LNG procurement, supply diversification, market deregulation, and the promotion of open gas infrastructure, including LNG re-gasification terminals, underground gas storage, and pipelines; 

·      sharing the knowledge and experience of the governments of Japan and the United States and coordinating joint commercial diplomacy to promote the realization of essential energy policies and to catalyze private sector investment in Vietnam; 

·      assisting the targets and goals that Vietnam will set in its approved PDP8, 

·      supporting capacity building for Vietnam by Japan and the United States, such as providing technical assistance on procurement and tender processes that promotes best practices, high standards, a culture of transparency; 

·      holding joint meetings that include relevant agencies, that enhance trilateral cooperation, and that reflect private sector consultation concerning private sector investment challenges and opportunities.