A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Nguyen Van Binh, Member of the Political Bureau (Politburo) of the Central Committee of the Communist Party of Vietnam, Chairman of the Central Committee's Economic Commission, took place today at the St. Petersburg International Economic Forum 2019.
The parties discussed the status of the ongoing bilateral projects and the prospects of cooperation, with an emphasis on advancing power generation and LNG projects.
It was noted that the PVGAZPROM Natural Gas for Vehicles joint venture plans to start building a small-scale LNG plant this year. The plant, which is slated to come onstream in 2020, will produce vehicle fuel for road and maritime transport. Competitive bidding for an EPC contractor is currently underway.
The parties also discussed the drafting of a new 10-year cooperation agreement between Gazprom and Petrovietnam.
The St. Petersburg International Economic Forum 2019 is being held at the EXPOFORUM Convention and Exhibition Centre from June 6 to 8. This year's key topic is Creating a Sustainable Development Agenda.
A company specialized in overseas projects, including power-generation and LNG projects, Gazprom EP International B.V. represents Gazprom in Vietnam.
Vietnam Oil and Gas Group (Petrovietnam) is engaged in hydrocarbon exploration, production, processing, transportation and marketing. In December 2009, Gazprom and Petrovietnam signed the Agreement of Strategic Partnership effective until December 2019.
In 2015, PVGAZPROM Natural Gas for Vehicles, a joint Russian-Vietnamese company focused on the use of natural gas as a vehicle fuel, was registered. The joint venture consists of Gazprom EP International B.V. (35.5 per cent), Gazprom Gazomotornoye Toplivo (35.5 per cent), and PETROVIETNAM GAS (29 per cent).
The company is implementing a joint pilot project aimed at constructing a Vietnam-based small-scale complex for the production of LNG to be used as a vehicle fuel.