“Gazprom and Petrovietnam have a history of long-lasting successful cooperation in natural gas prospecting and exploration. By signing the Memorandum of Cooperation in natural gas use as a motor fuel our companies expand the energy cooperation between Russia and Vietnam. We see a high potential of the business expansion both domestically and internationally, and we believe Vietnam to be a promising market for stepping up NGV projects,” said Markelov.
The document defines the key areas of cooperation in the specified sector within the Socialist Republic of Vietnam. In particular, the Memorandum stipulates that efforts will be taken to convert Ho Chi Minh public transport to natural gas. A joint Russian-Vietnamese venture will be established as part of the project.
In April, both companies had met to discuss the potential cooperation in the area of natural gas for vehicles. On that occasion, the working meeting included the presence of Alexey Miller, Chairman of Gazprom Management Committee, and PhungDinhThuc, Chairman of the Board of Directors of Petrovietnam State Oil and Gas Corporation.