Petrolimex and ADB cooperate in green energy transition

Under the cooperation agreement, through the funded resources, ADB will provide a technical assistance package to support Petrolimex in implementing a preliminary assessment of the Group's current business portfolio and providing potential energy transition roadmaps for Petrolimex including new project development; developing a detailed energy transition strategy by understanding and assessing the diversification of Petrolimex's product portfolio towards cleaner, greener through cost-benefit analysis; developing a roadmap and a synchronous action plan for Petrolimex's energy transition journey.

Chairman of the Board of Directors of Vietnam National Petroleum Group Pham Van Thanh spoke.

This cooperation demonstrates the importance of Petrolimex in Vietnam's efforts to transition to a low-carbon economy and its relevance in ADB's strategy in Vietnam for the period 2023–2026 to support the country's governance and institutional capacity...

Speaking at the signing ceremony, Petrolimex Chairman Pham Van Thanh said: “We believe that the cooperation with ADB will achieve profound and practical results, not only helping Petrolimex optimize energy strategies but also providing innovative solutions, helping us achieve sustainable development goals and move towards carbon neutrality.”

ADB Country Director for Vietnam Shantanu Chakraborty said.

On the ADB side, Mr. Shantanu Chakraborty - ADB Country Director for Vietnam - highly appreciated Petrolimex's key position in the domestic petroleum market. ADB leaders believe that Petrolimex possesses the capacity and extensive expertise to effectively operate green hydrogen plants and promote the development of sustainable aviation fuel. "The partnership between ADB and Petrolimex is particularly important given Vietnam's commitment to achieving net zero emissions by 2050," Mr. Chakraborty shared.

Board member, General Director of Petrolimex Dao Nam Hai and ADB Country Director in Vietnam Shantanu Chakraborty signed a memorandum of understanding on energy transition cooperation.

Petrolimex and ADB share the vision and expectation that the MoU will be the first step for an important strategic research project, supporting Petrolimex to achieve its goal of becoming Vietnam’s leading energy group in green, clean and environmentally friendly products by 2025, with a vision to 2035.

Source: https://daibieunhandan.vn/petrolimex-va-adb-hop-tac-chuyen-dich-nang-luong-xanh-post405722.html