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Petrovietnam and Singapore promote energy cooperation in Vietnam

On 12th August 2022, at the headquarters of Vietnam National Oil and Gas Group (Petrovietnam), Chairman of the Board of Directors Hoang Quoc Vuong had a meeting and worked with Dr. Tan See Leng - Minister of Human Resources cum Second Ministry of Industry and Trade of Singapore.

Overview of the meeting

Attending the meeting, on the Singapore side, there were Mr. Jaya Ratnnam - Singapore Ambassador to Vietnam; together with leaders of units under the Singapore Ministry of Industry and Trade, the Singapore Energy Market Regulatory Authority, the Singapore Business Development Authority, the Singapore Economic Development Board. On the side of Petrovietnam, there were Mr. Bui Minh Tien - Member of the Board of Directors; Mr. Pham Tien Dzung - Vice President of the Group; representative leaders of Divisions/ Administration Office of the Group and Petrovietnam Power Corporation (PV Power). 

At the meeting, Petrovietnam Chairman Hoang Quoc Vuong welcomed Minister Tan See Leng and the delegation to visit and work with Petrovietnam. The Chairman shared with Minister Tan See Leng about the fields of operation of Petrovietnam as well as the operation situation and development strategy of Petrovietnam in the coming time. Especially in the context of a very strong energy transition, Petrovietnam aims to become a leading energy group in the country and in the region, prioritizing the development and expansion of renewable, clean and sustainable energy sources for the country such as natural gas/LNG, offshore wind power, hydrogen and green ammonia... contribute towards the goal of the Government of Vietnam in implementing commitment to the net-zero emissions by 2050.

Chairman Hoang Quoc Vuong expressed his desire to receive the attention and support from the Government and the Ministry of Industry and Trade of Singapore to promote cooperation between Petrovietnam and Singapore businesses in connecting the power grid; wind power development technology in the process of energy transition

Minister Tan See Leng thanked Petrovietnam’s leaders for taking the time to receive the delegation. On the occasion, Minister Tan See Leng emphasized the good relationship between Vietnam and Singapore over the years and has been increasingly strengthened, reflected in many fields such as science and technology, human resource exchange, in the industrial field... With the goal of net zero emissions by 2050, Minister Tan See Leng said that Singapore would increase the application of renewable energy and solar energy not only in Singapore but also import renewable energy, solar energy, clean energy from countries in the region with partners in ASEAN to jointly develop and build a unified electricity network in the region.

Minister Tan See Leng assessed that Vietnam had a lot of potential in cooperation in connecting the power grid between Singapore and Vietnam. At the same time, Minister Tan See Leng wished to share and support Petrovietnam in connecting with the region, sharing Singapore’s plan on importing electricity; about the opportunity to cooperate with Petrovietnam to develop renewable energy sources to support Vietnam’s goal of increasing the implementation of renewable energy projects. 

Petrovietnam Chairman of the Board of Directors Hoang Quoc Vuong presents a souvenir to Minister Tan See Leng

Petrovietnam Chairman of the Board of Directors Hoang Quoc Vuong receives a souvenir from Minister Tan See Leng

Petrovietnam Chairman of the Board of Directors Hoang Quoc Vuong hoped that in the coming time, the cooperation relationship between Petrovietnam and Singaporean would more and more develop and achieve more practical results. The Chairman also proposed to Minister Tan See Leng to continue creating favorable conditions for Petrovietnam with Singaporean businesses to research and promote seeking investment cooperation opportunities in the field of energy, offshore wind power development projects; grid connection in ASEAN, green hydrogen development and energy storage to stabilize the power grid, bringing benefits to all parties, actively contribute to strengthening the cooperation relationship between Vietnam and Singapore.