Gazprom and Petrovietnam sign Memorandum of Cooperation in natural gas use as motor fuel
Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Nguyen Vu Truong Son, Vice President of Petrovietnam State Oil and Gas Corporation signed in the presence of Dmitry Medvedev, Prime Minister of the Russian Federation and Nguyen Tan Dung, Prime Minister of the Socialist Republic of Vietnam a Memorandum of Understanding to cooperate in natural gas production and use as a motor fuel.
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.
“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 Vitaly Markelov.