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PetroVietnam and Petronas sign gas agreement

Update: March, 19/2019 - 09:00
PetroVietnam and Petronas signed a heads of agreement (HOA) for sale and purchase of additional gas to Cà Mau gas, power and fertiliser complex. — Photo petrotimes.vn
Viet Nam News

HCM CITY — Việt Nam National Oil and Gas Group (PetroVietnam) and Malaysian oil and gas corporation Petronas last week in HCM City signed a heads of agreement (HOA) for the sale and purchase of additional gas to Cà Mau gas, power and fertiliser complex.

Under the HOA, the complex would receive additional gas of one billion cu.m per year from the end of 2019 and beginning of 2020 to solve the gas shortage.

PetroVietnam and Petronas would continue to negotiate a gas purchase contract following the signing to ensure stable and effective operation of the complex as well as energy security of the country.

Speaking at the signing ceremony, Nguyễn Quốc Thập, deputy general director of PetroVietnam said the signing proved the effective co-operation between PetroVietnam and Petronas. It has been an important pre-condition for the two sides to complete a contract on the gas purchase.

Maliki Kamal Yasin, Petronas’ deputy general director, affirmed that the signing would be a good start for the two sides to agree further contracts.

Thanks to strong co-operation between the two sides, PetroVietnam has always been given priority to receive the maximum gas demand in dry season. Meanwhile, Petronas would receive additional gas during the rainy season from PetroVietnam.

The Cà Mau gas, power and fertiliser complex was built in 2001 in southern-most Cà Mau Province. Its gas consumption demand is 2.2 billion cu.m per year. The complex uses natural gas resources from Lot PM3- CAA in an offshore area between Việt Nam and Malaysia. — VNS

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