Vietnam and Russia eager to boost energy cooperation

(VOV) – Energy cooperation is one of the key areas in the Vietnam Russia traditional friendship and cooperative relations.

Energy projects on hydro-power and thermal power plant construction and oil and gas exploitation are regarded as key pillars in a long-term cooperation between Vietnam and the former Soviet Union and Russia today.

Vietnam considers energy cooperation with Russia as main targets for national development, construction and long-term energy security. It is also seen as Russia’s efforts in expanding investment overseas and promoting national economic development.

Russia also priotizes boosting energy cooperation with Vietnam and wants to become the latter’s most reliable trustful partner.
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In a recent interview with the Vietnamese media before his trip to Vietnam last year, Russian Prime Minister D.Medvedev emphasized the importance of strengthening energy cooperation with Vietnam.

Russia and Vietnam can collaborate on high-technology and energy and fuel supply and processing and exchange products and semi-products, such as oil, and gas, he said.

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The first Deputy Prime Minister Igor Ivanovich Shuvalov shared the same view at the first Vietnam-Russia Economic Forum in Hanoi in Mid-October.

At the forum Vietnamese Deputy Prime Minister Hoang Trung Hai also affirmed Vietnam’s priorities given to enhancing Vietnam-Russia energy cooperation and intensifying investments in energy infrastructure.

Both nations have made great strides in oil and gas cooperation in recent years with millions of tonnes of oil exploited, gaining profits worth dozens of billions of US dollars.

Cooperation between Vietnam National Oil and Gas Group (PetroVietnam) and Russian petroleum companies and groups has delivered huge benefits, contributing to the development of the two countries’ petroleum industries. Along with Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro), many more other joint ventures have been set up proving their effective operations.

Russian petroleum companies, such as Zarubezhneft, Gazprom, Rosneft, Lukoil have expanded oil exploration on the continental shelf of Vietnam, engaged in oil refinery projects in Vietnam and PetroVietnam’s projects in Russia.

Joint ventures between PetroVietnam and Russian companies have contributed to increasing total exploited oil volume in Vietnam.

During Prime Minister Nguyen Tan Dung’s visit to Russia in May, the successful signing of cooperation documents between PetroVietnam and its Russian partners marked a turning point in bilateral cooperative relations

Vietnam greatly values Russian group Zarubezhneft’s long-term operation in Vietnam.

At the ceremony to mark the 45th anniversary of Zarubezhneft, the Vietnamese President presented Labour Order (first class) to the group and its General Director plus certificates of merits to outstanding individuals and units.

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Regarding cooperation between Zarubezhnev and PetroVietnam, ambassador to Russia Pham Xuan Son said Vietnam never forget the support and assistance given to Vietnam by Zarubezhnev staff and experts’ and Russian veterans. Nuclear energy development is another Vietnam’s prioritised field in its cooperation with Russia.

Russia is willing to work hand in hand with Vietnam as a major partner in building nuclear power plants, typically Ninh Thuan 1.

Russian government has pledged to provide scholarships for Vietnamese students who follow nuclear power field to meet the demand for human resources of Ninh Thuan 1 Nuclear Power plant.

Agreements and documents are scheduled to be signed during President V.Putin’s upcoming visit to Vietnam, including those on energy cooperation which will help raise mutually beneficial cooperation in oil, gas and nuclear energy to new heights.

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