PM Pham Minh Chinh receives Novatek Chairman, promotes cooperation on key LNG projects
WVR - On the morning of March 23 (local time, afternoon the same day Hanoi time), during an official visit to the Russian Federation, Prime Minister Pham Minh Chinh and a high-level Vietnamese delegation visited and worked with Novatek, a leading Russian and global corporation in the natural gas sector.
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| Prime Minister Pham Minh Chinh and the high-level Vietnamese delegation visit Novatek. (Source: VGP) |
During the meeting, Mr. Leonid Viktorovich Mikhelson, Chairman of the corporation, introduced the history of Novatek and its development orientation in Vietnam. Expressing great honor in welcoming the Prime Minister, he evaluated Vietnam as one of the fastest-growing countries globally, focusing on energy development. Novatek hopes to continue receiving support in expanding cooperation and investment activities in Vietnam, based on the Comprehensive Strategic Partnership and traditional cooperation between the two nations.
Novatek was established in August 1994, primarily operating in the exploration, production, processing, and trading of natural gas and liquid hydrocarbons. Novatek is the second-largest natural gas producer in the Russian Federation (after Gazprom) and the seventh-largest publicly traded company globally by natural gas production. In the 2020 Forbes Global 2000, Novatek was ranked as the 316th largest public company worldwide.
Novatek has successfully implemented large-scale LNG projects and developed proprietary natural gas liquefaction technology. Novatek is currently very interested in the LNG sector in Vietnam, including participating in the Ca Na project with partners like Zarubezhneft, and accessing Vietnam's growing gas market.
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| Prime Minister Pham Minh Chinh and Mr. Leonid Viktorovich Mikhelson, Chairman of Novatek. (Source: VGP) |
Praising the achievements of Novatek, Prime Minister Pham Minh Chinh affirmed that the corporation's activities align with Vietnam's major strategies and orientations, aiming for economic growth of 10% and achieving net-zero emissions by 2050, with significant transitions, including energy transition.
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| Prime Minister Pham Minh Chinh evaluates the corporation's activities as aligning with Vietnam's major strategies and orientations, aiming for economic growth of 10% or more and achieving net-zero emissions by 2050. (Source: VGP) |
The goal of 10% economic growth, as well as the development of sectors, especially artificial intelligence, demands significant energy. Novatek has engaged in discussions and cooperation with Vietnamese partners, and this alignment in development orientation will create synergistic impacts and effectiveness for both sides.
In the spirit of "connecting the past, promoting the present, looking to the future", "saving time, valuing intelligence, and making decisive actions at the right time", "listening with sincerity, sharing with heart, acting with specific products and results", the Prime Minister suggested Novatek closely coordinate with localities, agencies, and state-owned enterprises in Vietnam's energy and oil and gas sectors such as Petrovietnam, Vietnam Electricity Group, and private enterprises to participate and implement projects, including building large storage facilities of Novatek in Vietnam.
Additionally, the Prime Minister encouraged Vietnamese enterprises to strengthen cooperation with Novatek in natural gas liquefaction technology.
Novatek's leadership expressed high agreement and stated they would actively engage with Vietnamese partners to promote the projects and cooperation activities that Prime Minister Pham Minh Chinh has addressed.
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| The Prime Minister presents a souvenir to the corporation. (Source: VGP) |
Assessing energy cooperation between Vietnam and the Russian Federation as a highlight in bilateral relations over the past 50 years, the Prime Minister expressed gratitude to the Russian side for investing, assisting, and facilitating the development of Vietnam's oil and gas industry and the Vietnam National Oil and Gas Group, turning it into a multinational corporation.
On the other hand, energy cooperation is also a sector where Russia has strengths, Vietnam has needs, and it is a significant component of the Comprehensive Strategic Partnership between the two countries.
Moreover, in the current context of rapidly changing, complex, and unpredictable situations, promoting relations with traditional friends and diversifying supply sources, markets, products, and supply chains is of great importance. Vietnam is also vigorously promoting the application of science and technology, and innovation to restructure and transition in the energy sector.
Affirming that both sides have the need and ideas for cooperation, the Prime Minister supports Novatek in expanding its activities and investments in Vietnam based on legal regulations, considering the foundation of the Comprehensive Strategic Partnership, traditional friendship between Vietnam and Russia, and the cooperation results achieved in the energy sector between the two sides; while effectively cooperating and competing fairly with other partners and investors.
Noting that Vietnam is reviewing amendments to legal regulations related to the electricity sector, the Prime Minister welcomed the corporation's participation in developing LNG port infrastructure projects, LNG power plant projects, such as in the Hai Phong-Quang Ninh area, Nam Du (An Giang), Nghi Son (Thanh Hoa), Ca Na (Khanh Hoa), as well as the stable supply of LNG to the Vietnamese market, making the most of these advantages and promptly addressing any difficulties and obstacles.
