Attending the meeting on behalf of Petrovietnam were Vice President Le Ngoc Son, Office Manager Tran Binh Minh, Deputy Head in charge of Electricity and Renewable Energy Division Nguyen Thanh Binh, General Director of Petrovietnam Power Corporation (PV Power) Le Nhu Linh, Deputy General Director of Petrovietnam Technical Services Corporation (PTSC) Tran Hoai Nam.
On Novatek’s side, there were Vice Chairman of the Board of Directors Tafintsev Ilya Vadimovich, Director in charge of Business Development Golm Elena Nikolaievna, Chief Representative of Novatek Group in Vietnam Kovtun Andrei Georgievich.
Overview of the meeting of Petrovietnam President and CEO Le Manh Hung with leaders of Novatek Group Tafintsev
As said by Novatek Vice President Tafintsev at the beginning of the meeting, Novatek is the largest private gas exploration and production company in the Russian Federation with an output of about 70 billion m3/year. Currently, Novatek has been strongly developing the LNG sector, in which the I Yamal LNG gasification production complex has the largest scale in Russia with a capacity of over 16.5 million tons/year. Its LNG production capacity is expected to reach 40 million tons/year by 2025.
In the Asia-Pacific region, Novatek Group assessed that Vietnamese market had great potential, in line with the group’s new development strategy. In addition, Novatek wished to take advantage of Vietnam’s new policies in the field of energy development including the LNG sector.
Petrovietnam President and CEO Le Manh Hung highly appreciated the cooperation between Novatek and major corporations in the group, and affirmed that oil and gas cooperation has played a fundamental role in the comprehensive strategic partnership between Vietnam and the Russian Federation. President and CEO Le Manh Hung introduced Petrovietnam as the leading state-owned economic group in Vietnam with 5 core fields, including oil and gas exploration and production; gas industry, power generation, refining - petrochemical and petroleum services.
President and CEO Le Manh Hung suggested Novatek deepen cooperation with Petrovietnam’s member units - PV GAS and PV Power
According to President and CEO Le Manh Hung, Petrovietnam is interested in the global energy transition, especially when the Vietnamese Government commits to reducing carbon emissions by 15% by 2030 and net zero carbon emissions by 2050. Through the introduction and sharing of Novatek’s leaders, cooperation between the parties must be calculated on the basis of Petrovietnam’s capabilities and market factors in Vietnam.
In order to strengthen the cooperation to exploit the strengths of the two groups to the fullest, President and CEO Le Manh Hung also suggested that Novatek soon report to the Russian Government on cooperation with Petrovietnam in terms of cooperation between businesses in the energy sector, at the same time suggested Novatek deepen cooperation with Petrovietnam's member units - PV GAS and PV Power.
Novatek Vice President Tafintsev: Vietnam is the first country where Novatek is ready to invest and develop energy
As affirmed by Novatek Vice President Tafintsev when assessing the great potential for cooperation between the two sides, Vietnam is the first country where Novatek is ready to invest and develop energy and Novatek will seriously implement its commitments in Vietnam especially in the condition that businesses receive strong support from the Russian Government.
At the end of the meeting, Novatek Vice President cordially invited President and CEO Le Manh Hung to visit the group’s headquarters and its oil and gas production facilities in an appropriate time.