HANOI, June 20. /TASS/. Russia can both produce liquefied natural gas in Vietnam and supply it to the country from its territory, Russian President Vladimir Putin told reporters.

"There are different options here: we can take part in the construction of the appropriate liquefaction capacities, or we can supply our liquefied gas from the territory of the Russian Federation. Either way, it’s possible, there are prospects here, there are corresponding blocks where we can operate and produce liquefied natural gas," he said.

During Putin’s visit to Vietnam, Novatek signed a memorandum of cooperation with the state-owned company Petrovietnam. Earlier Putin stated that Russia was ready to establish long-term direct supplies of hydrocarbons, including LNG, to Vietnam, and Russian companies were ready to join large-scale projects using LNG as co-investors and suppliers.

In September 2023, Novatek CEO, Leonid Mikhelson, said that the company’s Vietnamese partners made a number of specific proposals to enter the republic’s market, but negotiations are complicated by the lack of a legislative framework for such projects and problems with demand.