Gazprom Signs MoU with Vietnam for LNG Delivery

Gazprom will begin supply of liquefied natural gas (LNG) to Vietnam following the signing of a Memorandum of Understanding (MoU) between Gazprom and the Vietnamese President yesterday.

During a meeting with Gazprom Deputy Chairman Vitaly Markelov and Vietnamese President Troung Tan Sang, the two sides discussed the possibility of Gazprom supplying LNG to Vietnam. As a result of these discussions, the two parties signed an MoU which will cover LNG supply cooperation between Gazprom Marketing & Trading and Petrovietnam Gas.

In addition to this signing, President Tan Sang and Mr. Markelov also discussed Russian-Vietnamese cooperation in other energy matters, a statement from Gazprom reports. The talks brought particular attention to the cooperation of Gazprom and Petrovietnam, which have formed the joint venture Vietgazprom to further exploration and production on the Vietnamese continental shelf (VCS).

Vietgazprom, which was formed in 2000, seeks to identify potential blocks on the VCS with the aim of exploring, producing and selling from those blocks. The two companies, Gazprom and Petrovietnam, have also formed another joint venture, Gazpromviet in 2008. This company, which is run from Russia, aims to identify potential exploration and production sites in third countries.