Vietnam To Create Optimal Conditions For Russian Investment In LNG - Foreign Ministry

VLADIVOSTOK/MOSCOW (UrduPoint News / Sputnik - 10th September, 2019) Vietnam will create favorable conditions for Russian companies to invest in liquefied natural gas (LNG) projects in the Southeast Asian country, Vietnamese Deputy Foreign Minister To Anh Dung told Sputnik.

"Vietnam is at a very important stage of the industrialization and modernization of the country. It needs energy. Apart from traditional energy resources - oil and gas - Vietnam is very interested in using new energy carriers, including liquefied natural gas. Russia, and in particular its Far Eastern regions, is a 'strong player' in the technology of LNG extraction. Our county will create favorable conditions for Russian businesses so that they could invest in LNG projects in Vietnam," To said in an interview.

The deputy minister noted that such cooperation should have a balanced approach to the interests of both countries, be mutually beneficial and comply with the Vietnamese law.

He added that the Vietnamese government would also create an environment for Russian energy companies in terms of exploration and development of oil and gas fields both within the framework of current projects and in new projects on Vietnam's continental shelf.

"We also expect that the Russian government will create favorable conditions for the participation of the Rusvietpetro joint venture [between Russia's Zarubezhneft and Vietnam's Petrovietnam] in the development of high-potential fields in Russia," To noted.

He added that the sides were actively discussing the possibilities of cooperation in electricity, LNG, nuclear energy and renewable energy, stressing that various areas of cooperation in the fuel and energy sector would make an important contribution to the economic development of each country and help intensify the Vietnam-Russia comprehensive strategic partnership.