Petronas, Petrovietnam deepen energy cooperation under new pact
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and Vietnam National Industry–Energy Group (Petrovietnam) have signed a strategic alliance agreement to strengthen cooperation across the energy value chain.
KUALA LUMPUR – Petroliam Nasional Bhd (Petronas) and Vietnam National Industry–Energy Group (Petrovietnam) have inked a strategic alliance agreement, marking 35 years of partnership between the two energy giants. The pact, signed by Petronas president Tan Sri Tengku Muhammad Taufik and Petrovietnam president Le Manh Cuong, aims to expand cooperation across the energy value chain, encompassing upstream development, gas, liquefied natural gas, downstream activities and low-carbon solutions.
The signing ceremony took place at Petrovietnam headquarters, with the exchange of documents following at Vietnam's government headquarters, attended by Prime Minister Le Minh Hung. Tengku Muhammad Taufik and Le Ngoc Son, Petrovietnam chairman, exchanged the documents. Petronas reiterated its commitment to Vietnam's evolving energy needs while exploring additional opportunities for regional energy collaboration.
Established in Vietnam in 1991, Petronas has since diversified its presence, venturing into petrochemicals, renewable energy and LNG projects through joint ventures with Petrovietnam and other Vietnamese companies. Their collaboration also includes a tripartite renewable energy project involving Malaysia, Vietnam, and Singapore.
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