Petrovietnam Partners with the International Community to Seek Innovative Solutions for an Efficient and Sustainable Energy Transition

Petrovietnam: Affirming its leadership in the national industrial and energy sector

This message was underscored by Mr. Le Manh Cuong, Deputy General Director of Petrovietnam, during the discussion session titled “Innovative Solutions for an Efficient and Sustainable Energy Transition”, held as part of the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit.

Petrovietnam Deputy General Director Le Manh Cuong: Energy transition is both a responsibility and an opportunity to innovate, enhance efficiency, and fulfill environmental commitments.

The world today is facing unprecedented challenges related to climate change, environmental degradation, and the depletion of natural resources. In this context, energy transition is no longer a mere option—it is an urgent and inevitable necessity. Vietnam is actively deploying a range of measures to realize its national development goals while aligning with global trends and commitments. Innovation remains the key enabler in overcoming challenges and accelerating the shift toward sustainable energy.

In recent years, Petrovietnam has proactively developed and implemented a comprehensive energy transition roadmap that integrates sustainable development goals, energy security, and the national commitment to achieving net-zero emissions. The Group has launched numerous innovative initiatives, including the adoption of advanced technologies to enhance energy efficiency and sustainability; promotion of circular economy models such as associated gas reuse, waste heat recovery, and the treatment and reuse of production water.

Deputy Minister of Industry and Trade Nguyen Hoang Long chaired the discussion session on “Innovative Solutions for an Efficient and Sustainable Energy Transition.”

Additionally, Petrovietnam has piloted research projects in offshore wind power, green hydrogen, green ammonia, and carbon capture, utilization, and storage (CCUS)—laying critical groundwork for its long-term emissions reduction strategy.

In the upstream sector, advanced technologies have been adopted to optimize operations, enhance safety, and reduce environmental impact. Beyond fossil energy, the Group has expanded its focus to include renewable energy development, LNG projects, high-tech services, and clean technologies. Petrovietnam is actively involved in the national LNG-to-power value chain, covering importation, storage, and distribution.

In offshore wind energy, Petrovietnam’s subsidiaries—such as PTSC and Vietsovpetro—have taken part in the manufacturing of foundation structures and offshore equipment, contributing to the localization of the supply chain and strengthening domestic capabilities for large-scale development. The Group has also engaged in international initiatives such as the Just Energy Transition Partnership (JETP), the ASEAN Energy Forum, and has collaborated with global organizations including the World Bank (WB), Asian Development Bank (ADB), GIZ, and JICA to access technical, policy, and financial support for the energy transition. Petrovietnam has also established an ESG (Environmental, Social, Governance) assessment framework for major investment projects, progressively integrating sustainability as a core principle in its operations.

Nonetheless, energy transition is a complex and long-term endeavor. Its success requires strong support from the government and close collaboration among businesses, the scientific community, and international organizations.

The year 2025 will mark a historic milestone for both Vietnam and Petrovietnam, commemorating 50 years since the Group’s establishment. This year will also see the official adoption of its new identity: Vietnam National Industry and Energy Group, underscoring its elevated role as a pillar of national energy security, economic development, and global integration.

With a bold, innovation-driven development strategy anchored on three pillars—energy, industry, and services—Petrovietnam is poised to reaffirm its position as a national pioneer. The Group is committed to investing more sustainably in traditional energy sectors, accelerating the growth of new energy sources such as green hydrogen and LNG-to-power, expanding energy storage, and embracing digital transformation in operational systems. Above all, Petrovietnam will continue to cultivate innovation, build high-quality human capital, and stay ahead of global technology trends.

PVN