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  • Gazprom and Petrovietnam addressing prospects for entry into Vietnamese petroleum products market
    édité le 18/06/2014 - Plus de news de "GAZPROM" - Voir la fiche entreprise de "GAZPROM"


Gazprom and Petrovietnam addressing prospects for entry into Vietnamese petroleum products market
The Gazprom headquarters hosted a working meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Do Van Hau, President and CEO of Petrovietnam National Oil and Gas Group.

The meeting participants addressed the main areas of the cooperation in the energy sector. In particular, they endorsed the joint development projects offshore Vietnam and the growth of the NGV market in the Republic. In addition, the discussion was focused on the possibilities of supplying Russian LNG to Vietnam as well as the prospects for broadening the cooperation between Gazprom and Petrovietnam in Russia under the Gazpromviet joint venture.

Special attention was also given to the interaction in the oil refining sector. For instance, the parties looked into the prospects for joint operation and development of Dung Quat – Vietnam's only oil refinery. It was pointed out that increasing the capacity and improving the efficiency of the refinery would considerably boost the Vietnamese oil refining industry and give Gazprom access to one of the booming markets of petroleum products.

About Gazprom and Petrovietnam

A joint venture of Gazprom (51 per cent stake) and Petrovietnam (49 per cent), Gazpromviet is focused on implementing oil and gas projects in Russia.
In 2013 Gazprom and Petrovietnam launched commercial gas production from the Moc Tinh and Hai Thach fields of licensed blocks 05.2 and 05.3 offshore Vietnam, with recoverable gas and condensate reserves amounting to 35.9 billion cubic meters and 15.2 million tons respectively. Gazprom and Petrovietnam are also engaged in exploration activities in blocks No. 112, 129, 130, 131, 132 located in the continental shelf of Vietnam.
In March 2013 Gazprom Marketing & Trading Singapore and Petrovietnam Gas signed Heads of Agreement for LNG supply to the Thi Vai terminal in southern Vietnam.
In October 2013 Gazprom and Petrovietnam signed the Agreement on the basic principles of the joint venture activities under a project for natural gas use as a vehicle fuel in the Republic of Vietnam. The document stipulates wider cooperation between the companies in converting Ho Chi Minh City public transport to natural gas.

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 72 per cent respectively. Gazprom accounts for 14 and 74 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.

Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 168 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union.

About Petrovietnam

PETROVIETNAM, Vietnam Oil and Gas Group is a state-owned company. On June 18th 2010, the Prime Minister issued the Decision No. 924/QĐ-TTg accepting that PETROVIETNAM is the State-owned Company Limited-Vietnam Oil and Gas Group (short name is Vietnam Oil and Gas Group) with international transaction name is Petrovietnam, PVN for short.


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