Gazprom Secures Vietnam Deal

Russian gas titan Gazprom has reported securing an agreement of cooperation with South Asian firm Petrovietnam.

The deal to team up on a number of oil and gas-related projects was signed by Alexey Miller, chairman of Gazprom, and Tran Ngoc Canh, president and CEO of Petrovietnam, in Hanoi.

According to Gazprom, the two energy firms will cooperate on natural gas, oil and other energy exploration, production, transportation, utilization and marketing projects. In particular, Gazprom and Petrovietnam will team up to develop oil and gas pipeline infrastructure, including a storage facility and pipeline network.

Pursuant to the agreement, the parties also agreed to promote interaction within promising projects in third countries, including when exploring and developing gas and oil fields. The companies are also intent on interacting in the sci-tech, staff qualification upgrading and training sectors.