Tokyo Gas, PetroVietnam Gas to Cooperate in LNG Sector in Vietnam

Tokyo Gas and PetroVietnam Gas (PV Gas) signed a memorandum of understanding (MoU) on Friday to conduct a feasibility study on energy solution business in Vietnam, the Japanese firm said Monday.

“Tokyo Gas and PV Gas back in March 5, 2012 signed a memorandum of understanding for cooperation on the development of the LNG value chain in Vietnam (Comprehensive MoU), and have been in discussions since then on the specifics of the cooperation. The feasibility study on energy solution business is the first time for the two companies to collaborate under the ‘Comprehensive MoU’ with the aim of LNG value chain development in Vietnam,” Tokyo Gas said.

The two companies during the a series of discussions discovered the potential for further cooperation in energy solution businesses, such as energy-saving services enabling efficient use of LNG and other energy, and LNG satellite provision to bring LNG to areas not served by gas pipelines.

“The companies therefore decided to go on to the next stage of a more detailed feasibility study,” Tokyo Gas announced.

The Tokyo Gas Group will continue to utilize its technologies and expertise in total energy businesses on behalf of customers operating in Southeast Asia and North America, helping them with energy solutions, while engaging in local infrastructure development, according to the company statement.

The Group is also taking up the challenge of value chain development in each region, including through partnerships with local energy companies.