Petrovietnam Accelerates Cross-Border Energy Partnerships and Green Technology Projects in Singapore

Advancing the Vietnam – Malaysia – Singapore Grid Interconnection Project

PETROVIETNAM President & CEO Le Manh Cuong, accompanied by executive leaders of PetroVietnam Technical Services Corporation (PTSC), held a high-level working session with senior leaders of Malaysia's National Oil Corporation (PETRONAS), Tenaga Nasional Berhad (TNB, Malaysia), and Sembcorp Industries (Singapore) to review the progress of the VMS Project—a landmark cross-border power grid interconnection linking Vietnam, Malaysia, and Singapore—and establish key operational milestones to transition the project into execution.

On October 11, 2026, during an executive working mission in Singapore, Mr. Le Manh Cuong, President and Chief Executive Officer of Vietnam National Industry - Energy Group (PETROVIETNAM), engaged in strategic discussions with international energy partners. The meetings focused on accelerating the Vietnam – Malaysia – Singapore Renewable Energy Export Project (VMS Project) and broadening technological cooperation across refining, petrochemicals, chemicals, and green energy, with the objective of materializing bilateral agreements, finalizing project readiness conditions, and optimizing investment efficiency. PETROVIETNAM leadership holds a working session with partners from Sembcorp, TNB, and PETRONAS.

During the meeting, the partners reviewed the execution of agreed workstreams, marine survey preparations, domestic and regional localization plans, and regulatory procedures with the Energy Market Authority of Singapore (EMA). Against the backdrop of heightened global energy security concerns, the partners appraised the VMS Project as not merely a commercial venture, but a strategic milestone strengthening regional energy connectivity and multilateral cooperation across Southeast Asia.

Given its unique nature as a cross-border infrastructure development, the parties underscored the imperative of seamless alignment between commercial developers and governmental regulators, backed by the strong support of the governments of Vietnam, Malaysia, and Singapore. The consortium has finalized and submitted formal proposals to designate VMS as a priority infrastructure project within the ASEAN Power Grid (APG) framework to the ASEAN Centre for Energy (ACE). In Malaysia, TNB and its partners are actively completing the requisite statutory procedures.

The consortium partners highly commended PTSC's proactive efforts in securing offshore survey permits and progressing engineering and procurement contracting packages required for the Phase 1 Final Investment Decision (FID). PTSC has mobilized advanced laser-based wind measurement systems (LiDAR) and dedicated offshore survey vessels, standing fully prepared to launch field survey campaigns immediately upon permit issuance.

To expedite the regulatory review and approval process, the partners agreed on a synchronized coordination roadmap to finalize submissions satisfying the technical and regulatory criteria set by Singaporean energy authorities.

PETROVIETNAM President & CEO Le Manh Cuong and PTSC President & CEO Tran Ho Bac, alongside representatives from Sembcorp, TNB, and PETRONAS.

Securing the project supply chain was identified as a paramount priority. Given the extended manufacturing and delivery lead times for critical equipment such as High Voltage Direct Current (HVDC) transmission systems, subsea power cables, and offshore wind turbines, securing early supplier commitments will be essential to control capital expenditures and safeguard project delivery timelines.

The parties agreed to establish a high-level expert working group and organize specialized workshops focusing on localization strategies and long-lead item procurement management. This initiative creates a prime opportunity for Vietnamese enterprises to demonstrate their engineering capabilities while deepening the participation of the regional supply chain.

Expanding Technology Cooperation and Developing Emerging Green Energy Products

As part of the working program, PETROVIETNAM President & CEO Le Manh Cuong, together with senior leadership of PetroVietnam Oil Corporation (PVOIL) and PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My), met with the executive management of Topsoe (Denmark) to discuss refining, petrochemical, chemical projects, and strategic pathways for green energy development.

Building on an enduring partnership in the fertilizer sector, the two corporations examined opportunities to broaden advanced technology integration across PETROVIETNAM's manufacturing assets. The core focus rests on leveraging existing industrial infrastructure, utilities, and feedstocks to develop integrated downstream complexes, elevating product added-value and capital efficiency.

PETROVIETNAM President & CEO Le Manh Cuong engages in discussions with Topsoe leadership.

The two parties evaluated the integration of Topsoe's proprietary Wet gas Sulfuric Acid (WSA) technology to treat sulfurous off-gases and recover high-value by-products across PETROVIETNAM's refineries and petrochemical plants. PETROVIETNAM requested Topsoe to further refine the engineering and commercial design to guarantee technical, environmental, and economic viability.

Discussions also addressed strategic pathways for utility-scale ammonia project development targeting both domestic industrial demand and high-value export markets. Finalizing technical standards and commercial frameworks was recognized as the foundational baseline for advancing to subsequent project development milestones.

PETROVIETNAM President & CEO Le Manh Cuong presents a commemorative gift to Topsoe leadership.

Beyond project-specific discussions, PETROVIETNAM and Topsoe explored strategic cooperation in Power-to-X technologies, converting clean electricity into synthetic fuels and chemicals, including green hydrogen, green ammonia, green methanol, Sustainable Aviation Fuel (SAF), and renewable diesel. These collaborative avenues align seamlessly with PETROVIETNAM's strategic evolution as a leading industry-energy major, broadening opportunities to deploy cutting-edge technology and develop high-value decarbonized products.

The high-level engagements in Singapore focused squarely on actionable requirements: expediting statutory approvals, completing offshore survey preparations, securing critical supply chains, selecting optimal technologies, and enhancing overall investment performance. Through these engagements, PETROVIETNAM and its international partners continue to translate high-level strategic alignment into concrete execution programs, reinforcing domestic industrial-energy capabilities and actively advancing regional energy connectivity across Southeast Asia.

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