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VN to import coal from Australia
Dau Tu (Investment) newspaper interviewed Energy and Petroleum Department Director Ta Van Huong about the Industry and Trade Ministry's plan to import coal from Australia
What are the prospects of importing coal from Australia?
Some enterprises previously sought out opportunities to buy coal from Australia. But they complained there were difficulties in buying large quantities and signing long term contracts.
The Ministry of Industry and Trade recently visited Australia to investigate the idea. The trip opened up some positive options and the delegation was warmly welcomed by many management offices and major coal enterprises in Australia.
The Industry and Trade Minister and Australian Ambassador to Viet Nam have already discussed the issue. This is an indication of Australia's willingness to export coal to other countries, not only Viet Nam.
The two sides have already signed a Memorandum of Understanding on coal import through the trip as a result.
Does it mean it will be possible to import coal over the long term and in large enough quantities?
That's right. The ministry proposed to import 100 million tonnes of coal per year from Australia under a long-term contract reached during the trip.
Under the MoU and initial discussions with the Australian partner, it is very likely to happen.
How will Vietnamese enterprises import coal from Australia?
The involved businesses will discuss the details themselves. The delegation to Australia not only included the Viet Nam Coal and Mineral Industries Group but also the Electricity of Viet Nam Corporation, the Viet Nam National Oil and Gas Group, and the Tan Tao Group which all have great demand for coal.
Is there a possibility that prices might rise and long term contracts won't be signed if Vietnamese enterprises compete with each other over the coal order?
We've already anticipated this possibility, and we're instructing these enterprises to directly import coal, but they must be under the guidance of the Government and the Ministry of Industry and Trade. The Australian Government also supported the plan.
The ministry is also compiling a regulation on coal imports which underlines the idea of not interfering into business operations or competition, but can still guarantee reaching a consensus.
When will the ministry complete regulations on the management of coal import?
We hope to complete it within a month. We'll then collect opinions on it.
When will Vietnamese enterprises be able to import the first batch of coal from Australia?
We've already informed our Australian partner that we intend to import a large quantity of coal over the next five years, thus every activity related to negotiation process should gradually begin. It is not necessary if we import small quantities as we do now.
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