Malaysia's national oil company Petronas has proposed long-term liquefied natural gas supplies and cooperation on LNG infrastructure in Vietnam. Chairman and chief executive Tengku Muhammad Taufik discussed the proposals with Prime Minister Le Minh Hung on October 16, VnExpress reported.
Petronas wants to work with Vietnam's national industry and energy group PVN and other domestic businesses on infrastructure. The report describes areas of proposed cooperation rather than completed LNG deliveries or a newly priced supply contract.
Cooperation across energy sectors
The Malaysian group also expressed interest in wind power, hydrogen, carbon capture and storage, and technology transfers. Taufik said the cooperation was intended to support energy security at appropriate costs and the development objectives of both countries.
The proposed Vietnam–Malaysia–Singapore electricity interconnection was another discussion point. Hung welcomed regional energy links and acknowledged Petronas's coordinating role and the involvement of Petrovietnam member PTSC.
Vietnam said it was refining regulations covering petroleum, electricity, investment and land, alongside adjustments to Power Development Plan VIII. Further investment and contracts in open offshore blocks must balance interests, deliver investment efficiency and comply with applicable law.
Strategic-alliance agreement exchanged
PVN and Petronas exchanged a Strategic Alliance Agreement aimed at broadening cooperation from individual projects to the wider energy value chain. They were encouraged to establish joint coordination and translate the agreement into specific programmes and projects.
The companies have worked together for more than three decades. VnExpress cited cumulative PM3-CAA production of 250 million barrels of oil and 43 billion cubic metres of gas. Those historical project figures are separate from the LNG and electricity-link proposals discussed at the meeting.