Within the framework of the official visit to the Russian Federation, on the morning of March 23 (local time), Prime Minister Pham Minh Chinh and the high-level Vietnamese delegation visited and worked with Novatek, a leading enterprise in the natural gas sector.
At the working session, Mr. Leonid Viktorovich Mikhelson, Chairman of the group, introduced the formation process and development orientation of Novatek in Vietnam.
He assessed that Vietnam is a rapidly developing economy, focusing on the energy sector, and expressed his desire to expand cooperation and investment on the basis of the Comprehensive Strategic Partnership between the two countries.
Novatek was established in August 1994, operating in the field of exploration, production, processing and trading of natural gas and liquefied hydrocarbons. It is the second largest gas producer in Russia and is in the group of leading companies in the world in natural gas production. The Group has implemented many large-scale LNG projects and developed its own natural gas liquefied energy technology.
This enterprise is interested in the Vietnamese market, including participating in the Ca Na project with partner Zarubezhneft and seeking opportunities in the developing gas market.
Appreciating Novatek's capacity and results, Prime Minister Pham Minh Chinh said that the group's orientation is in line with Vietnam's development strategy, which includes the goal of economic growth of over 10% and achieving net zero emissions by 2050. The large energy demand for economic development and fields such as artificial intelligence poses a requirement to promote energy cooperation.
The Prime Minister emphasized that energy cooperation is a bright spot in Vietnam - Russian Federation relations for more than 50 years, and thanked the Russian side for supporting Vietnam's oil and gas industry development.
In the context of volatile world situations, diversifying supply sources, markets and supply chains is considered very important. Vietnam is also promoting the application of science and technology and innovation in the energy sector.
Affirming that the two sides have a need for cooperation, the Prime Minister supported Novatek's expansion of investment in Vietnam, and welcomed the group's participation in developing LNG warehouse and port infrastructure, LNG gas power plants in areas such as Hai Phong - Quang Ninh, Nam Du, Nghi Son and Ca Na, as well as providing stable LNG sources to the market.
The Prime Minister requested Novatek to coordinate with Vietnamese energy agencies, localities and enterprises such as Petrovietnam, Vietnam Electricity Group, and the private sector to implement projects, including building a large storage warehouse in Vietnam. Novatek leaders expressed their agreement and said they would promote exchanges with Vietnamese partners.
