Research jointly conducted by the Vietnam National Industry‑Energy Group (Petrovietnam) and the Japan Organisation for Metals and Energy Security (JOGMEC) identified Vietnam’s CO₂ storage potential at up to 71 billion tonnes. The Red River Basin alone holds about 39 billion tonnes, and more than 1 billion tonnes could be stored in depleted oil and gas fields. This geological capacity makes CCUS technically attractive for the country.

The International Energy Agency said CCUS deployment must double to become an essential part of the net‑zero transition. Doubling the use of CCUS is therefore critical for Vietnam to reach its 2050 target rather than a later date.

The amended Law on Oil and Gas adopted in 2026 includes provisions related to carbon capture and storage, establishing a legal basis for such activities in the oil and gas sector. Dr Nguyen Thanh Tung, Deputy Director of the Vietnam Petroleum Institute, warned that early CCUS projects are unlikely to generate significant direct economic returns. He added that policies are needed to stimulate demand for low‑carbon products and attract investment into the CCUS value chain.

In summary, Vietnam’s 2050 net‑zero goal depends on CCUS because of its huge storage potential, the IEA’s call for expanded deployment, and a new legal framework that can support projects despite early financial challenges. Effective policies will be key to turning this potential into real emissions reductions.