Gazprom, PetroVietnam Discuss Russian LNG Supplies to Vietnam

Gazprom and PetroVietnam held talks in Moscow on Tuesday regarding possibilities of supplying Russian LNG to Vietnam.

The topic was discussed during a meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Do Van Hau, President and CEO of PetroVietnam National Oil and Gas Group.

The meeting also dealt with joint development projects offshore Vietnam and the growth of the NGV market in the Southeast Asian nation.

A joint venture of Gazprom (51 per cent stake) and PetroVietnam (49 per cent), Gazpromviet is focused on implementing oil and gas projects in Russia.

In 2013 Gazprom and PetroVietnam launched commercial gas production from the Moc Tinh and Hai Thach fields of licensed blocks 05.2 and 05.3 offshore Vietnam, with recoverable gas and condensate reserves amounting to 35.9 billion cubic meters and 15.2 million tons respectively. Gazprom and PetroVietnam are also engaged in exploration activities in blocks No. 112, 129, 130, 131, 132 located in the continental shelf of Vietnam.

In March 2013 Gazprom Marketing & Trading Singapore and Petrovietnam Gas signed Heads of Agreement for LNG supply to the Thi Vai terminal in southern Vietnam.

In October 2013 Gazprom and Petrovietnam signed the Agreement on the basic principles of the joint venture activities under a project for natural gas use as a vehicle fuel in the Vietnam. The document stipulates wider cooperation between the companies in converting Ho Chi Minh City public transport to natural gas.