Petronas inks gas supply deal with PetroVietnam

Petronas inks gas supply deal with PetroVietnamImage courtesy of PetroVietnam

Malaysian energy giant Petronas signed a binding heads of agreement with Vietnam Oil and Gas Group (PetroVietnam) for the sales and purchase of additional gas from Malaysia to Vietnam.

According to the agreement, Petronas would deliver natural gas from Block PM3 CAA, Malaysia to Ca Mau Province, Vietnam, Petronas said in a statement.

The deal has been agreed in support of the country’s plan to spur its economic growth in its South West region.

PetroVietnam noted that in 2001, the government of Vietnam decided to invest in the construction of Ca Mau gas – power – fertilizer complex in Khanh An Commune with the demand for gas consumption of 2.2 billion m3/year.

The complex uses natural gas from Block PM3CAA in the overlapping area offshore Vietnam and Malaysia.

However, under the current terms, Vietnam expects the facility to experience a shortage of more than 1 billion cubic meters of natural gas per year.

The new deal would ensure PetroVietnam receives additional gas for Ca Mau gas – power – fertilizer complex to continue stable and efficient operation.

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >