PetroVietnam to join Russia’s Eastern gas program

The Vietnam National Oil and Gas Group (PetroVietnam) is likely to take part in the Eastern Gas Program coordinated by Russia’s energy giant Gazprom.

The issue was discussed at the first meeting of the Gazprom-PetroVietnam Joint Coordinating Committee, which concluded in Saint Petersburg on Tuesday.

Co-chaired by Gazprom Deputy CEO Alexander Ananenkov and PetroVietnam Vice President Nguyen Tien Dung, the meeting highly valued the joint work of both Gazprom and PetroVietnam on exploration of the continental shelf of Vietnam as well as prospects for bilateral cooperation in oil and gas projects in Russia and third countries.

Gazprom and PetroVietnam have effectively cooperated in a number of oil and gas projects in Vietnam and created a joint venture, Gazpromviet, to develop projects in Russia and third countries.

The Eastern Gas Program, which was approved in September 2007, is to create a single system of gas production and transportation in Russia’s Eastern Siberia and Far East with possible exports to the markets of China and other countries in the Asia-Pacific region.

The Program also includes the construction of the Sakhalin-Khabarovsk-Vladivostok transportation system, which will provide “green energy” for Russia’s Far East.

Tags: Eastern gas program, PetroVietnam