The Socialist Republic of Vietnam (SRV) is one of the fastest growing economies of the region and world. Traditional sectors, such as agriculture, seafood, rice and coffee gradually give way to high-tech businesses and the heavy industry. Annually, foreign investments are USD tens of billions and lead to rapid industry development and, consequently, to growing energy consumption.
The new international market strategy of the Gazprom Group views Vietnam as one of the Asia-Pacific (AP) countries with most potential for energy projects. In the synergism with Vietnam, apart from being clearly beneficial, Gazprom sees the possibilities of using the most advanced and proven technologies in the field of energy.
In Vietnam, Gazprom is represented by Gazprom EP International. With a representative office in Ho Chi Minh City, the company is a partner of PetroVietnam in a number of joint ventures in Hanoi and other cities.
Currently, Gazprom EP International is getting ready to embark on the Quang Tri Gas-Fired Power Plant construction project, and is engaged in developing Vietnam’s NGV market in cooperation with PV Gas.
The partnership with Vietnam started in 1997 when a Memorandum of Cooperation was signed between the Gazprom Group and PetroVietnam.
The next important step was signing a Strategic Partnership Agreement in 2009 that covered joint work on oil and gas projects in Russia, Vietnam, and third countries. At that moment, the active phase of cooperation began.
In 2012, a five-year Agreement on Personnel Training and Retraining was signed to provide Vietnamese specialists with training and education inside and outside Russia, including production facilities of Gazprom EP International.
To develop one of the strategic areas of cooperation, a Russian-Vietnamese joint venture called PVGAZPROM Natural Gas for Vehicles was incorporated in 2015. The JV is composed of Gazprom EP International (35.5%), Gazprom Gas-Motor Fuel LLC (35.5%), and PV Gas (29%).
In May 2016, Gazprom PJSC and PetroVietnam signed a package of documents aimed to enhance the cooperation: a Memorandum of Understanding on the development of new oil and gas projects, a Memorandum of Understanding on power generation and an Addendum to extend the Agreement on Cooperation in Personnel Training. The documents, in particular, provide for new oil and gas projects inside and outside Vietnam and joint projects in gas-fired power generation in Vietnam, as well as extend the Agreement on Cooperation on Personnel Training for 5 years.
Power Plant Construction in Quang Tri
In 2018, Alexey Miller, Chairman of the Gazprom Management Committee, Nguyen Vu Truong Son, Director General and Member of Petrovietnam’s Board of Directors, and Nguyen Quan Chinh, Deputy Chairman of the People’s Committee of Quang Tri Province, signed a Memorandum on the Roadmap for the Integrated Project Development of the Bao Vang Field — Power Plant Construction in Quang Tri Province.
In December 2018, by decision of the SRV Government, the power plant was included in the Energy Sector Development Plan of Vietnam — PDP-VII. Currently, the Government of the Socialist Republic of Vietnam is expected to approve the assigning of Gazprom EP International as investor for the project. Work on the Feasibility Study continues as required by the laws of Vietnam.
Vietnam’s NGV market
In 2013, Gazprom and Petrovietnam entered into an agreement on a joint venture for the production and use of liquefied natural gas (LNG) as a motor fuel in Vietnam. Gazprom EP International, Gazprom Gas-Motor Fuel, and PV Gas have incorporated a joint venture called PVGAZPROM Natural Gas for Vehicles LLC (PVGAZPROM NGV) to embark on this project. The Gazprom Group Companies have a share of 35.5% each in the joint venture, and PV Gas, 29%. The incorporation procedure completed in October 2015.
The staging ground for the JV is eight provinces belonging to the key economic area in southern Vietnam. The JV launched a pilot project focused on, among other things, generating sustainable demand for natural gas as a vehicular fuel (NGV).
With this objective in view, it is planned to build a small-scale gas liquefaction plant with an annual capacity of up to 14,000 tonnes of LNG per year, and to create a network of stations to fill vehicles with LNG and CNG. The plant will be commissioned in 2020. NGV produced by the plant will cover road transport (mostly public). In addition, the JV intends to tap into the water transport sector. Domestic LNG demand is fully met by national production hence there will not be any LNG exports.
Vietnam is a country in the Mainland Southeast Asia. Vietnam shares its land borders with China in the north, and Laos and Cambodia in the west. It is washed by the South China Sea in the south and the east.
Ho Chi Minh City and Hanoi (the capital) are the major cities in Vietnam. Since 1976, its official name has been the Socialist Republic of Vietnam.
The head of the Socialist Republic of Vietnam is a president elected for 5 years by the members of the National Assembly of Vietnam (parliament). The prime minister is the head of government. The deputies of the National Assembly are also elected for 5 years. The official language is Vietnamese.
The country is divided into 58 provinces and five directly administered municipalities, equal to the provinces in status: Hanoi, Ho Chi Minh City (formerly known as Saigon, southern Vietnam’s center for business and industry), Hai Phong, Da Nang, and Can Tho.
Vietnam is rich in natural resources, including phosphates, coal, manganese, bauxite, offshore oil and gas fields, wood, etc.
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