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15 Jan, 13:02

Russia ready to supply oil and LNG to Vietnam — communique

The Vietsovpetro joint venture, based in the southern Vietnamese city of Vung Tau, remains the flagship of Russian-Vietnamese cooperation in the fuel and energy sector

HANOI, January 15. /TASS/. Russia is ready to supply Vietnam with oil and liquefied natural gas (LNG), according to a joint Russian-Vietnamese communique adopted following the visit of Russian Prime Minister Mikhail Mishustin to Hanoi.

"The parties noted the readiness of the Russian Federation to supply oil, liquefied natural gas and its processed products to Vietnam, to develop new energy projects, including in the field of renewable energy, which is a promising area of cooperation," the document says.

The statement also says that Russia and Vietnam intend to "continue to create favorable conditions for the implementation of joint oil and gas projects on the territory of the Russian Federation and on the continental shelf of Vietnam in accordance with the legislation of the two countries and international law, including the 1982 UN Convention on the Law of the Sea."

The Vietsovpetro joint venture, based in the southern Vietnamese city of Vung Tau, remains the flagship of Russian-Vietnamese cooperation in the fuel and energy sector.

Established in 1981, the JV marked the production of its 250 millionth ton of oil in 2024. Its counterpart, the Rusvietpetro Joint Company, is functioning in the Nenets Autonomous District of Russia.