HCMC – Prime Minister Pham Minh Chinh held a working session with Novatek, one of Russia’s leading natural gas corporations, during his official visit to Russia on the morning of March 23 (local time).
At the meeting, Leonid Viktorovich Mikhelson, chairman of Novatek, described Vietnam as one of the fastest-growing economies in the world with strong demand for energy development. He expressed Novatek’s hope to continue receiving support to expand cooperation and investment in Vietnam, based on the Comprehensive Strategic Partnership between the two countries.
According to the prime minister, Novatek’s operations align with Vietnam’s major strategic goals—achieving economic growth of 10% or higher and reaching net-zero emissions by 2050. Major transitions are being accelerated, particularly in energy transformation and the development of artificial intelligence, both of which require substantial energy resources.
PM Chinh expressed appreciation to the Russian side for its investment, support, and favorable conditions that have helped Vietnam’s oil and gas sector, including Petrovietnam, develop into a multinational group. Energy is an area of strength for Russia and a key demand for Vietnam, and it constitutes an important pillar of the Comprehensive Strategic Partnership between the two countries.
Amid a rapidly evolving, complex, and unpredictable global landscape, strengthening ties with traditional partners while diversifying supply sources, markets, and supply chains is of great significance.
On the basis of shared needs and cooperation ideas, PM Chinh voiced support for Novatek to expand its operations and investments in Vietnam in accordance with Vietnamese law, taking into account the foundation of the Vietnam–Russia Comprehensive Strategic Partnership and existing achievements in energy cooperation, while ensuring efficiency and fair competition.
Vietnam is currently considering amendments to its electricity regulations.
PM Chinh welcomed the group’s participation in developing LNG terminal infrastructure and LNG-to-power projects in Haiphong–Quang Ninh, Nam Du (An Giang), Nghi Son (Thanh Hoa), and Ca Na (Khanh Hoa). He also emphasized the need to ensure stable LNG supply for the Vietnamese market, leverage existing advantages, and promptly address obstacles.
He called for Novatek to closely coordinate with local authorities, agencies, and firms in the energy and oil and gas sectors, such as Vietnam Electricity Group, as well as private firms, to implement projects, including the construction of large-scale LNG storage facilities in Vietnam. He also encouraged Vietnamese businesses to strengthen cooperation with Novatek in LNG liquefaction technology.
Novatek’s leadership expressed agreement and said it would actively engage with Vietnamese partners to advance cooperation projects in line with the direction set by Prime Minister Pham Minh Chinh.
