PV GAS and PETRONAS strengthen cooperation in the LNG sector

PV GAS President and CEO welcomes US Consulate General in Ho Chi Minh City

PV GAS signs strategic partnership agreements in the US, expands LNG network

Welcoming the delegation on behalf of PV GAS was Mr. Nguyen Phuc Tue – Deputy General Director of the Corporation – along with representatives from relevant departments and divisions.

The entire scene of the working session between PV GAS and PETRONAS.

PETRONAS is one of the world’s leading energy corporations, with a fully integrated presence across the oil and gas value chain, from upstream exploration to downstream distribution. In the liquefied natural gas (LNG) sector, PETRONAS is currently among the top global suppliers, with an annual trading volume of approximately 33 million tons and a vast network of international partners.

The long-standing partnership between Petrovietnam and PETRONAS has spanned over three decades, with notable upstream oil and gas projects such as Block PM3-CAA and Ham Rong – Thai Binh. Most recently, in November 2023, the two sides signed a Memorandum of Cooperation (MoC), expanding their collaboration into promising new areas including renewable energy, gas, and petrochemicals.

Mr. Nguyen Phuc Tue discussed the cooperation opportunities between the two parties.

To turn the MoC’s cooperation initiatives into reality, PV GAS and PETRONAS have reached an agreement and signed a deal for an LNG cargo scheduled for delivery in early April 2025. The shipment, valued at approximately VND 1,000 billion (around USD 40 million), marks a significant milestone and represents the initial step in commercial LNG cooperation between the two companies in the Vietnamese market.

During the session, both parties also exchanged insights on potential collaboration across the gas and LNG value chain, including supply arrangements, infrastructure development in the gas industry, and other related sectors, to help meet Vietnam’s rising energy demands.

Mr. Shamsairi M. Ibrahim spoke about the commitment to cooperate with PV GAS.

Speaking at the meeting, Mr. Shamsairi M. Ibrahim reaffirmed PETRONAS’s commitment to working closely with PV GAS and emphasized the shared vision of building a sustainable, mutually beneficial partnership.

The two sides agreed to maintain regular discussions and work toward concretizing future cooperation initiatives. These include evaluating the possibility of LNG purchases by PV GAS under medium- and long-term contracts. This strategic collaboration not only delivers tangible economic value for both companies, but also deepens the relationship between Petrovietnam and PETRONAS and further promotes the growing bilateral ties between Vietnam and Malaysia.

Both sides agreed to continue discussions and further concretize the cooperation agreements in the near future.

PVN