Novatek, Siemens, Total in Vietnam Power Plan

Russian independent producer Novatek has signed a memorandum of understanding with French Total Gas & Power Business Services and Siemens to co-operate in LNG marketing in Vietnam, it said December 1. Also on the agenda is developing infrastructure for rebuilt gas-fired power generation capacity in the market, it said.

Novatek and Total are partners in the Yamal LNG project, which is about to start commissioning, with the first cargo expected this month. It will likely go westwards Europe, as the eastern route from Yamal to Asia is under thick ice at this time of the year.

Novatek CEO Leonid Mikhelson said: “We are very interested in infrastructure projects that create effective marketing channels to deliver produced LNG to end-consumers. Together with our partners, we view the Vietnam as an attractive market considering its growing economy and increasing demand for LNG imports.”