A petrol station on Hà Nội's Thái Hà Street. — VNA/VNS Photo Huy Hùng

HÀ NỘI — Deputy Prime Minister Trần Hồng Hà on Tuesday signed a decision approving the infrastructure planning for national petroleum and gas reserves for the 2021-30 period, with a vision towards 2050.

The overall objective of the planning project is to develop an infrastructure system for the reserves, including strategic reserves, production reserves, commercial reserves, transport, and distribution. The system is expected to meet economic, technical, and environmental requirements; and ensure sufficient, safe, continuous reserves and supplies for socio-economic development, national defence, and security.

The project also aims to ensure that the storage capacity of crude oil and petroleum products nationwide reaches 75-80 days of net imports, and the storage capacity of gas reserves meets the domestic market demand.

Specifically, it targets to stabilise the commercial petroleum infrastructure to meet demand in the local market, with an additional storage capacity of 2,500,000-3,500,000 cubic metres for 2021-30 and 10,500,000 cubic metres after 2030.

The planning looks to form the infrastructure for national reserves with a storage capacity of 500,000-1,000,000 cubic metres of petroleum products and 1,000,000-2,000,000 tonnes of crude oil within the 2021-30 period.

By 2030, more LPG and LNG storage systems will be developed to increase capacity in all regions. In which, LPG storage is about 60-70,000 tonnes; LNG storage is 23 million tonnes a year.

The total investment in the development of the infrastructure system to reserve and supply petroleum and gas by 2030 is estimated at VNĐ270 trillion (US$11.4 billion), mobilised mainly from non-budget capital, enterprise capital and other legal capital sources. State budget capital should be prioritised for investments in the construction of infrastructure exclusively for national reserves. — VNS