Vietnam Premier Hopes for Enhanced Energy Ties with Russia

Tuan Minh

12:21 18/05/2016

BizLIVE - Vietnamese Prime Minister Nguyen Xuan Phuc hopes Vietnam and Russia to further strengthen energy cooperation.

Vietnam Premier Hopes for Enhanced Energy Ties with Russia

PMs Nguyen Xuan Phuc and Dmitry Medvedev witness the signing between PetroVietnam, Vietsovpetro, PVEP, Bitexco and Sovico. (Photo: VGP)

Vietnam’s Prime Minister Nguyen Xuan Phuc expects Russian oil and gas companies to expand operations in the Southeast Asian country as the energy sector is a key pillar in the Vietnam-Russia Comprehensive Strategic Partnership.
The Vietnamese government always supports sustainable and long-term cooperation in the oil and gas industry between businesses of the two countries, PM Nguyen Xuan Phuc said during a four-day visit to Russia, his first overseas trip after taking office in early April.
During a visit to Gazprom’s headquarters, the prime minister expressed hope that the Russian gas giant would expand its operations from oil and gas exploration and production to petrochemicals and fuel gas for auto engines.
While visiting Zarubezhneft, a Russian offshore energy firm, the Vietnamese premier proposed Zarubezhneft and PetroVietnam increase oil and gas production in the two countries and third ones.
In the presence of PMs Nguyen Xuan Phuc and Dmitry Medvedev, PetroVietnam signed memoranda of understanding with Gazprom and Rosneft on a number of projects. Among them, PetroVietnam and Gazprom will develop power plants using liquefied natural gas (LNG) produced by Vietgazprom.
PetroVietnam and Gazprom will exploit Block 16-01/15, operated by joint venture Vietsovpetro. Meanwhile, PetroVietnam and Rosneft are cooperating in tapping Block 06.1 offshore Vietnam.