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Petrovietnam promotes cooperation in the field of renewable energy

On 26th October, in Hanoi, Petrovietnam Vice President Phan Tu Giang met and worked with the HSBC delegation.


Overview of the meeting

Attending the meeting on the side of HSBC were Mr. Justin Wu – Head of Climate Change Control in Asia Pacific; Mr. Sunil Veetil – Head of Sustainable Finance in Asia Pacific; Ms. Frances Chan – Head of Sustainability in Southeast Asia with representative leaders of HSBC Vietnam. 

On the side of Petrovietnam, there were Mr. Phan Tu Giang – Vice President of the Group; and representative leaders of the Group’s Divisions/ Administration Office.

At the meeting, Vice President Phan Tu Giang gave preliminary information to the delegation from HSBC about Petrovietnam’s oil and gas exploration and production activities. 

According to Mr. Phan Tu Giang, domestic and foreign onshore and offshore oil and gas exploration and production is Petrovietnam's core business to meet the country’s growing energy demand. In addition, Petrovietnam is also aiming for Net Zero emissions by 2050, emphasizing the role of LNG in the energy transition with the desire to promote the synchronous deployment of LNG use for power projects and gas/LNG value chains. 

Net Zero is an opportunity and also a challenge for Petrovietnam and the Group is balancing between maintaining production and business activities and gradually realizing the goal of energy transition. 

Mr. Justin Wu – Head of Climate Change Control in Asia Pacific acknowledged and highly appreciated Petrovietnam’s efforts in its energy transition strategy and development plan for electrification, LNG and renewable energy projects. 

Mr. Justin Wu expressed his hope that in the coming time, there would be opportunities to cooperate and support Petrovietnam to promote and implement energy transition projects. 

At the meeting, representative leaders of HSBC shared about coal power and renewable energy policies, as well as HSBC’s commitments on net zero emissions. HSBC also presented reports on transition trends and climate solutions in the market, and highlighted its role in accompanying customers in the energy transition.