Vietnamese, Japanese firms cooperate in LNG & Gas research

A memorandum of understanding (MoU) on cooperation in researching in the field of liquefied natural gas  (LNG) and gas in Vietnam was signed between the Vietnam National Petroleum Group (Petrolimex) and the JXTG Tsutomu Sugimori Group of Japan in Hanoi on July 1. 

Chairman of Petrolimex Pham Van Thanh (L) and CEO of JCCP at the signing ceremony (Source: VNA)

Chairman of Petrolimex Pham Van Thanh (L) and CEO of JCCP at the signing ceremony (Source: VNA)

The signing was carried out in the framework of Vietnam-Japan investment promotion and business connection conference, jointly held by the Ministry of Planning and Investment and the Japan External Trade Organisation (JETRO) on the occasion of Prime Minister Nguyen Xuan Phuc’s participation in the 14th G20 Summit in Japan. 

The Japanese group is currently a strategic shareholder and holds 8 percent of stake in Petrolimex. 

The MoU is a foundation for the two sides to work together to develop a detailed report on LNG and gas in Vietnam, serving an upcoming LNG project of Petrolimex.

In the coming time, Petrolimex will focus on building LNG import port in central Khanh Hoa province.

Previously, Petrolimex also signed an MoU with the Electricity of Vietnam (EVN) on cooperation in developing clean energy. Accordingly, Petrolimex will supply LNG to power plants built by the EVN in Khanh Hoa.

On this occasion, Petrolimex and the Japan Cooperation Centre Petroleum (JCCP) also inked an MoU, which is considered as a significant step in the bilateral cooperation that has been built up by Petrolimex and the JCCP since 2011.

The cooperation focuses on human resources development and technical and technology cooperation in the medium- and down-stream oil and gas industry, as well as in other relevant fields, to meet the demand of real development and new energy trends.

Through the MoUs, the parties will continue to strengthen sustainable strategic partnership for common development goals, contributing to bolstering the fine friendship and solidarity between Vietnam and Japan.

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