Petronas and the Vietnam Oil and Gas Group (Petrovietnam) have signed a Strategic Cooperation Agreement (SAA) to strengthen Vietnam's energy security and accelerate the development of low-carbon solutions. The agreement was signed at Petrovietnam's headquarters in the presence of Tan Sri Tengku Muhammad Taufik, President and CEO of Petronas, and Le Manh Cuong, President and CEO of Petrovietnam.
Development of Liquefied Natural Gas Infrastructure
The agreement allows both companies to leverage their capabilities and create new opportunities in the energy value chain. This collaboration includes upstream, gas, and LNG development, as well as downstream opportunities and low-carbon solutions. The agreement is also seen as an advanced framework for cooperation between the two organizations.
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35 Years of Cooperation in the Energy Sector
The signing of this agreement is considered a milestone in the 35-year collaboration between Petronas and Petrovietnam, affirming the joint commitment of both companies to advancing energy security and sustainable development. Petronas has been present in Vietnam since 1991 and is recognized as a leading international investor in Vietnam's oil and gas industry.
This collaboration has also expanded over time to regional energy partnerships, including a trilateral renewable energy scheme among Vietnam, Malaysia, and Singapore, where Malaysia acts as an energy transfer hub and Singapore serves as a key consumption center.
Petronas will continue to collaborate with Petrovietnam in supporting Vietnam's evolving energy needs while providing broader opportunities for energy cooperation at the regional level.
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