tai 188bet Petrovietnam – A New Aspiration in Nuclear Power Development
On tai 188bet afternoon of February 19th, immediately after tai 188bet National Assembly passed tai 188bet Resolution on several exclusive mechanisms and policies for investing in tai 188bet construction of tai 188bet Ninh Thuan nuclear power project, Petrovietnam organized tai 188bet conference "Nuclear Power - New Aspiration of tai 188bet Vietnam Oil and Gas Group."
Nuclear Power Conference – New Aspiration of Vietnam Oil and Gas Group, February 19th
tai 188bet conference saw tai 188bet participation of Dr. Tran Chi Thanh, Director of tai 188bet Vietnam Atomic Energy Institute; Dr. Le Van Hong, former Deputy Director of tai 188bet Vietnam Atomic Energy Institute; Dr. Hoang Anh Tuan, former Director of tai 188bet Atomic Energy Department (Ministry of Science and Technology); Assoc. Prof. Dr. Nguyen Van Thai, Deputy Director of tai 188bet Institute of Technical Physics, Hanoi University of Science and Technology; along with leading experts from tai 188bet Vietnam Atomic Energy Institute.
Representing Petrovietnam were Chairman of tai 188bet Board of Directors Le Manh Hung; General Director Le Ngoc Son; Deputy Secretary of tai 188bet Standing Party Committee Tran Quang Dung; members of tai 188bet Standing Committee, Board of Directors, Board of General Directors; and representatives of leaders from professional departments and units within tai 188bet Group.
Nuclear Power – tai 188bet Key to Achieving Net Zero
At tai 188bet conference, experts concurred that nuclear power is tai 188bet most viable solution amid climate change and tai 188bet ongoing energy crisis. This energy source will become increasingly significant and experience strong growth in tai 188bet near future, playing a crucial role in ensuring energy security. Nuclear power currently has tai 188bet lowest emissions among all major energy sources, including renewables, generating a large, stable electricity supply well-suited for today's energy demands, particularly in achieving tai 188bet Net Zero target.
Dr. Tran Chi Thanh, Director of tai 188bet Vietnam Atomic Energy Institute, proposes amending tai 188bet Law on Atomic Energy to完善 tai 188bet nuclear regulatory system
Drawing from international experiences, Dr. Tran Chi Thanh emphasized tai 188bet three pillars of nuclear power: power plants, nuclear regulations and safety, and research & development. In Vietnam, President Ho Chi Minh visited tai 188bet Obninsk Nuclear Power Plant (Soviet Union) in July 1955, paving tai 188bet way for nuclear power research in tai 188bet country. Subsequently, Vietnam had a nuclear power development program decades ago and actively implemented it from 1996 to 2016, with results that remain valuable.
"Vietnam is currently making efforts to implement nuclear power projects in Ninh Thuan, having designated sites, established a regulatory system, and trained a nuclear workforce. We must urgently continue tai 188bet progress made before 2016 because nuclear power development requires a long timeframe. Among tai 188bet key factors for success, human resources are crucial, and completing tai 188bet necessary infrastructure—particularly enhancing tai 188bet nuclear regulatory system through amendments to tai 188bet Law on Atomic Energy—is an essential task," recommended tai 188bet Director of tai 188bet Vietnam Atomic Energy Institute.
Comparing tai 188bet schematic diagram of a nuclear power plant, Dr. Le Van Hong, former Deputy Director of tai 188bet Vietnam Atomic Energy Institute, noted similarities with tai 188bet thermal power plants previously built by Petrovietnam.
Elaborating on tai 188bet current generations of nuclear power technology, Dr. Le Van Hong stated that nuclear power technology is now advancing at its highest level. Comparing tai 188bet schematic diagram of a nuclear power plant, Dr. Le Van Hong highlighted similarities with thermal power plants that Petrovietnam has previously developed, presenting an advantage for tai 188bet Group should it be assigned as tai 188bet project owner.
Another crucial topic addressed at tai 188bet conference was tai 188bet infrastructure and legal framework for nuclear power plant construction. According to M.A. Nguyen An Trung, Acting Head of tai 188bet International Cooperation Department, Vietnam Atomic Energy Institute, tai 188bet construction of a nuclear power plant must adhere to intergovernmental agreements, international conventions and treaties, as well as domestic legal frameworks, including Laws, Decrees, Prime Minister’s Decisions, Circulars, and National Technical Standards.
tai 188bet conference gathered leading experts in atomic energy
Among tai 188bet five major challenges of nuclear power—safety, economics, spent fuel management, nuclear non-proliferation, and public acceptance—safety remains tai 188bet most critical. This includes controlling chain reactions, managing decay heat, and ensuring secure radioactive waste storage. Clarifying these aspects, Assoc. Prof. Dr. Nguyen Van Thai introduced tai 188bet International Atomic Energy Agency (IAEA) safety standards, which ensure “suitable operational conditions, accident prevention capabilities, and minimized accident consequences, thereby protecting workers, tai 188bet public, and tai 188bet environment from excessive radiation risks.”
Economic viability is another key consideration in nuclear power development. Based on research on tai 188bet average construction time of nuclear power plants worldwide, Dr. Hoang Anh Tuan suggested that Vietnam could explore ways to shorten construction periods to optimize costs. According to Dr. Tuan, nuclear power is cost-competitive compared to other forms of power generation, except in locations with direct access to low-cost fossil fuels. While nuclear plants have higher capital costs than coal-fired plants and significantly higher than gas-fired plants, their system costs are much lower compared to intermittent renewable energy sources.
Dr. Hoang Anh Tuan, former Director of tai 188bet Atomic Energy Department: Vietnam could explore ways to reduce construction time and costs.
"tai 188bet construction of a nuclear power plant is a hallmark of large-scale infrastructure projects worldwide, involving substantial costs and formidable challenges. Therefore, it is essential to establish long-term capital incentive policies to ensure a diverse and reliable electricity supply system," recommended Dr. Hoang Anh Tuan.
Proactively Prepare, Strive for tai 188bet Highest Readiness for Major Tasks
During tai 188bet discussion session, Petrovietnam officials and engineers raised numerous questions regarding tai 188bet IAEA's nuclear infrastructure assessment process, Vietnam's self-assessment of infrastructure preparedness, tai 188bet recommended load factor for nuclear power plant operation, training strategies to quickly adapt to operational technologies, tai 188bet legal and policy framework for nuclear power, and tai 188bet challenges in meeting tai 188bet Prime Minister’s directive to bring nuclear power into commercial operation within five years. These concerns were thoroughly addressed and discussed by leading experts in atomic energy and nuclear power present at tai 188bet conference.
tai 188bet conference attracted leaders, officials, engineers, and technicians of Petrovietnam passionate about new energy sources
Concluding tai 188bet conference, Chairman of Petrovietnam's Board of Directors Le Manh Hung reaffirmed tai 188bet Group's slogan: "Petrovietnam - Energy for Development." Energy, he emphasized, extends beyond oil and gas to encompass tai 188bet broader national energy industry.
With Vietnam projected to become an upper-middle-income country by 2030 and a high-income country by 2045, tai 188bet development of baseload power sources is of utmost importance. tai 188bet goal, as directed by tai 188bet Prime Minister, is to have a nuclear power plant operational by 2030 at tai 188bet earliest and no later than 2031. Given tai 188bet demanding nature of this target, special solutions are required. To support this, tai 188bet National Assembly has approved a Resolution establishing exclusive mechanisms and policies for tai 188bet Ninh Thuan nuclear power project. However, beyond these special policies, additional regulatory and investment frameworks must also be refined, particularly those applicable to tai 188bet project owner.
Chairman of Petrovietnam’s Board of Directors Le Manh Hung: “tai 188bet entire Group must proactively study and prepare human resources before being officially assigned tai 188bet project by tai 188bet State.”
According to Chairman of Petrovietnam’s Board of Directors Le Manh Hung, based on Conclusion No. 76-KL/TW of tai 188bet Politburo regarding Petrovietnam’s development orientations—which include tai 188bet goal of transforming Petrovietnam into a National Industrial - Energy Group—tai 188bet company is strategically transitioning towards this goal. As part of this strategy, Petrovietnam is gradually expanding into new energy sectors, including renewable energy and emerging energy technologies.
Given tai 188bet national energy development requirements, Chairman Le Manh Hung has outlined five key focus areas for tai 188bet Group's leadership, engineers, and employees in tai 188bet coming period:First, continue research and propose mechanisms to optimize capital costs.Second, collaborate with experts to conduct self-assessments and select nuclear power technologies before making investment decisions.Third, focus on evaluating and selecting technologies based on safety criteria. Fourth, develop a well-structured human resource strategy, seek expert opinions, and establish an appropriate workforce structure for nuclear power plants.Fifth, explore financing solutions, including loan agreements such as export credit, while developing a sound financial framework and preparing resources to support tai 188bet outlined development strategy. Additionally, a risk management matrix must be established for tai 188bet nuclear power project, including strategic risk assessments, to ensure its successful and secure implementation.
"I call on all leaders, employees, experts, engineers, and technicians within tai 188bet Group to strive for tai 188bet highest level of excellence. With tai 188bet goal of transforming Petrovietnam into a National Industrial - Energy Group, we must diligently study, maintain a strong learning spirit, manage risks effectively, and ensure tai 188bet success and safety of tai 188bet project when entrusted by tai 188bet Government," emphasized Chairman Le Manh Hung.
tai 188bet organization of tai 188bet conference by Petrovietnam clearly demonstrates tai 188bet proactiveness and strong political responsibility of tai 188bet company’s leadership and workforce in tackling tai 188bet challenging mission entrusted by tai 188bet Party and tai 188bet State. Petrovietnam's determined and proactive approach is not only reflected in tai 188bet swift organization of tai 188bet conference but also in its methodical, scientific, and strategically driven approach. In tai 188bet context of Vietnam accelerating its energy transition, tai 188bet successful implementation of tai 188bet nuclear power project will mark a significant milestone, bringing tai 188bet country closer to its sustainable development goals and tai 188bet modernization of its energy sector.
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On tai 188bet morning of February 19th, tai 188bet National Assembly passed tai 188bet Resolution on several exclusive mechanisms and policies for investing in tai 188bet construction of tai 188bet Ninh Thuan nuclear power project with overwhelming approval. This Resolution outlines key measures that demonstrate tai 188bet State's strong commitment to implementing this nationally significant project. tai 188bet Resolution specifies tai 188bet stakeholders involved, including government agencies, Ninh Thuan province authorities, project owners, designated project preparation units, and other relevant organizations and individuals. Notably, regarding mechanisms and policies, tai 188bet Resolution clearly states that tai 188bet project will be subject to special mechanisms, such as simultaneous negotiations with partners who have signed international treaties or other potential partners to sign new international agreements on construction cooperation and project financing. These negotiations will be carried out in parallel with tai 188bet approval process for investment policy adjustments and project investment approval. In terms of investor and contractor selection, tai 188bet Prime Minister has authorized tai 188bet project owner to directly appoint contractors under an expedited procurement process for tai 188bet turnkey package to construct tai 188bet main power plant with contractors specified in international treaties. tai 188bet procedures for direct contractor selection under this expedited process will comply with tai 188bet Law on Bidding. Regarding tai 188bet financial plan and capital arrangements, tai 188bet Resolution specifies that negotiations will be conducted with tai 188bet governments of partner countries to secure project financing, aligning with tai 188bet project's funding needs and commitments from international lenders. tai 188bet project will be allowed to apply foreign lenders' regulations in cases where Vietnamese law does not yet provide provisions or differs from tai 188bet foreign regulations. Additionally, tai 188bet project owner will be eligible to borrow funds under a non-credit-risk re-lending mechanism, eliminating tai 188bet need to formulate separate proposals for ODA loans or concessional foreign loans. During tai 188bet project's execution, tai 188bet Prime Minister has tai 188bet authority to allocate additional funding from increased government revenue, budget savings, and other legal capital sources if negotiations on loan agreements do not succeed or if tai 188bet negotiated loan amounts are insufficient. tai 188bet project owner is also permitted to arrange counterpart funding from loan capital, corporate bonds, re-borrowed funds from government bonds, infrastructure bonds issued by tai 188bet government, and government-guaranteed bonds. tai 188bet re-lending terms will be based on tai 188bet borrowing conditions of tai 188bet bond issuance, tai 188bet project's debt repayment capacity, and tai 188bet Law on Public Debt Management. Furthermore, tai 188bet Prime Minister has approved a charter capital increase for tai 188bet project owner, funded by revalued depreciated assets from BOT power plants that have been transferred to state ownership and multi-purpose hydropower plants. tai 188bet additional capital will be equivalent to that of a nationally significant project. Authorized agencies responsible for re-lending ODA and foreign concessional loans will not be required to assess tai 188bet project's eligibility for re-lending, in accordance with Clause 3, Article 36 of tai 188bet Law on Public Debt Management. Previously, on February 4th, during tai 188bet 2nd Meeting of tai 188bet Steering Committee for Nuclear Power Plant Construction, Prime Minister Pham Minh Chinh assigned tai 188bet Ministry of Industry and Trade to report to tai 188bet relevant authorities regarding tai 188bet appointment of EVN (Vietnam Electricity) and Petrovietnam as tai 188bet project owners for Ninh Thuan Nuclear Power Plants 1 and 2.
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