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Illustrative image (Photo: VNA) Hanoi (VNA) - By developing and operating the domestic carbon market, Vietnam will effectively reduce carbon emissions. This will happen due to the increase in compatibility with international carbon pricing mechanism s, link with international and regional carbon markets, and increase competition among Vietnamese products, according to experts. carbon market with the proactive participation of businesses plays an important role in implementing Vietnam's commitments at the 26th United Nations Climate Change Conference of the Parties (COP26) in 2021 in the UK, Chinh said. Businesses need to clearly understand the carbon market's operating principles and legal provisions related to the market. This will balance their capacity and readiness to participate in the market when it becomes operational, especially registering to join the carbon credit exchange, he said. Energy conversion and net achievement according to zero emissions are … [Read more...] about Carbon market development helps reduce greenhouse gas emissions

An oil and gas production rig off the coast of West Java, Indonesia. (Photo: Reuters) Jakarta (VNA) -  The Upstream Oil and Gas Special Regulatory Task Force ( SKK Migas ) of Indonesia announced on January 17 that it  has approved a revised plan on development of its Merakes and Merakes East gas fields with a total investment of 3.35 billion USD. The project operated by the local unit of Italian energy company Eni started gas production in April 2021 and supplies to the Bontang LNG facility in East Kalimantan province. Chairman of regulator SKK Migas Dwi Soetjipto said the development of these fields will provide additional reserves to ensure supply to the East Kalimantan System so that the Bontang LNG refinery can operate more optimally. Investment for Merakes and Merakes East gas fields was initially set at 1.3 billion USD with peak production at 368 million standard cubic feet (MMSCFD) per day SKK Migas spokesperson Mohammad Kemal said the new development … [Read more...] about Indonesia approves 3.35-billion-USD gas development plan

In light of Decision 2976/QD-BCT dated December 30, 2022 approving Vietnam’s power system supply and operation plan in 2023, of nearly 4,300MW of new power sources be supplemented to the power grid in the new year, there are only two large-scale power plants: Thai Binh II thermos-power plant encompassing two turbines with a combined capacity of 1,200MW and BOT Van Phong thermos-power plant encompassing two turbines with a combined capacity reaching 1,432MW. More power plants are expected to come on stream to feed the country's burgeoning power demands The remainder are mostly hydropower plants with a combined capacity of nearly 1,700MW, and one waste-to-power plant with 30MW annual capacity. In 2022, out of 3,407MW of new power sources to be added throughout the year, there were just three coal-fired power turbine groups with a total combined capacity approximating 2,000MW, the remainder are all small to medium-size hydropower plants. The power sources structure … [Read more...] about New power generation sources proves scant

Vietnamese developers recently brought ‘Hera’ - an unmanned aerial vehicle (UAV) developed by a Vietnamese startup – on a tour in the U.S. where they showed potential partners just how impressive Vietnamese tech had become. Despite it being small enough to fit into a backpack, Hera can carry up to 15 kilograms and be assembled in just a few minutes. The very first order Hera is the brainchild of Vietnamese engineer, Dr. Luong Viet Quoc, the founder and CEO of Vietnam-based RealTime Robotics Inc. (RtR). Dr. Quoc and his team spent six years and hundreds of billions of Vietnamese dong developing Hera. "It's really excellent," said JT Von Lunen, CEO of RMUS Inc. (the U.S.), who recently took Hera for a test flight in Colorado. RMUS Inc. specializes in selling drones across the North American market. Von Lunen shared that he was particularly impressed with Hera’s ability to carry such a heavy payload, as well as its hour-long flight capacity. The Hera unmanned … [Read more...] about Vietnamese drones land in world market

NIllustrative image (Photo: internationalfinance.com) Jakarta (VNA) - Indonesia has set a target of issuing emission quotas for some coal-fired power plants within this month as a first step towards creating a mechanism for domestic carbon trading. Last year, Indonesia , among the world's biggest greenhouse gas emitters, set a more ambitious goal of reducing carbon emissions by 31.89% on its own or 43.2% with international support, by 2030. That compared to its 2015 Paris Agreement pledge to cut emissions by 29% or 41% with international help. Mohamad Priharto Dwinugroho, an official of the Ministry of Energy and Mineral Resources, said that the quotas will be set the latest by January 31. After obtaining the quotas, businesses are required to carry out carbon trading . The first phase of carbon trade will cover coal power plants with minimum 100 megawatt capacity that are directly connected to power grids owned by state utility Perusahaan Listrik Negara (PLN), … [Read more...] about Indonesia to set emission quotas for several coal-fired power plants

JBIC Chairman Tadashi Maeda revealed the plan at an Indo-Pacific business forum in Tokyo on January 12, NHK reported. JBIC, together with the US International Development Finance Corporation, and Export Finance Australia, will launch a new framework for support. In consultation with the Vietnamese Government, they will help the Southeast Asian nation switch to thermal plants fueled by liquefied natural gas and expand the use of renewable energy. They also aim to create business opportunities by introducing technologies for decarbonization. Vietnam has set a goal of achieving net-zero emissions by 2050. However, it faces the difficult challenge of maintaining economic growth while reducing its reliance on coal for power generation, according to NHK. Source: VNA … [Read more...] about Japan, U.S., Australia to assist Vietnam in decarbonization

The first wind farm on a continental shelf in Southeast Asia is situated in Vietnam’s Mekong Delta province of Bac Lieu. The 500ha Bac Lieu wind power plant is located in Bien Dong A Hamlet, Vinh Trach Dong Commune, Bac Lieu City. Wind turbines at Bac Lieu Wind Farm in Vinh Trach Dong Commune, Bac Lieu City, Bac Lieu Province, Vietnam. Photo: Tan Luc / Tuoi Tre The venue is home to 62 turbines placed on the sea, with each turbine being about 80m in height and each blade being 42m in length. A close-up of a wind turbine at Bac Lieu Wind Farm in Vinh Trach Dong Commune, Bac Lieu City, Bac Lieu Province, Vietnam. Photo: Tan Luc / Tuoi Tre Wind turbines at Bac Lieu Wind Farm in Vinh Trach Dong Commune, Bac Lieu City, Bac Lieu Province, Vietnam. Photo: Tan Luc / Tuoi Tre It has also become one of the attractions for visitors to the southern province of Bac Lieu. Although it is about 20 kilometers from the center of Bac Lieu City, … [Read more...] about Did you know Vietnam is home to Southeast Asia’s first wind farm on continental shelf?

As many as 120,000 passengers, including about 84,000 domestic passengers, passed through Tan Son Nhat airport on January 14. This figure marks the highest level since the beginning of the peak season of the traditional Lunar New Year (Tet) According to the schedule, Tan Son Nhat airport will operate a total of 868 take-off and landing flights on January 14. Tan Son Nhat International Airport From early in the morning travelers flocked to the airport in order to conduct check in procedures. Although the airlines’ counters and the security screening area were always crowded with customers, passengers faced no prolonged congestion. During the peak season of the Lunar New Year running from January 5 to February 5, Tan Son Nhat airport is forecast to welcome approximately 130,000 visitors per day, with 90,000 being domestic passengers. A representative of Tan Son Nhat airport said that with a record high of 120,000 passengers recorded on January 14, the number … [Read more...] about Tan Son Nhat airport receives record high of 120,000 passengers

A single winning ticket for a Mega Millions lottery jackpot of at least $1.35 billion, the second largest jackpot in U.S. history, was sold in Maine, lottery organizers said on Saturday. "Congratulations to the Maine State Lottery, which has just won its first-ever Mega Millions jackpot," Ohio Lottery director Pat McDonald, lead director for the Mega Millions Consortium, said in a statement. "It's the fourth billion-dollar jackpot in Mega Millions history." The winning ticket, which cost $2 and matched all six numbers, was bought at Hometown Gas & Grill convenience store in Lebanon, Maine. The ticket holder, yet to be identified, has the choice of a lump-sum payment of $723.5 million or an annual payout over 30 years. Most winners go for the lump sum, which comes with a hefty tax bill, according to the Mega Millions website. The winning numbers for the jackpot were 30, 43, 45, 46 and 61, plus the power ball 14. "This is a small rural town in southern Maine," Fred … [Read more...] about Ticket for $1.35 billion Mega Millions jackpot sold in rural Maine town

Minister of Natural Resources and Environment Tran Hong Ha (R) and a representative of HSBC Asia Pacific exchange a Memorandum of Understanding to collaborate on the Environment, Social, and Governance agenda. (Photo: Vietnam+) Hanoi (VNA) - HSBC Bank (Vietnam) Ltd. and the Ministry of Natural Resources and Environment (MoNRE) on November 8 exchanged a Memorandum of Understanding (MoU) to collaborate on the Environment, Social, and Governance (ESG) agenda. The ceremony, a COP27 side event, was attended by Minister of Natural Resources and Environment Tran Hong Ha and Stephen Moss, Regional Chief Executive Officer – Middle East, North Africa and Turkey, HSBC Group, and witnessed by representatives of MONRE and HSBC Asia Pacific's delegation attending COP27. The MoU states that HSBC Vietnam will assist MoNRE in building a practical approach to realising its strategies in alignment with Vietnam's net zero emissions targets. It also aims to build a framework that unlocks … [Read more...] about HSBC helps Vietnam realise net zero emissions targets