Novatek Group approaches LNG market in Vietnam

Novatek, the largest natural gas producer in the Russian Federation, said it is interested in many projects in the LNG sector in Vietnam.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan worked with representatives of Novatek Group.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan recently worked with leaders of Novatek Group, Russian Federation on the investment situation of liquefied natural gas (LNG) projects in Vietnam.

Novatek is the leading LNG producer and exporter in the Russian Federation, owns many large projects and is one of the few energy groups licensed by the Russian Federation to directly export LNG.

In Vietnam, Novatek Group is currently implementing an integrated project to build a 1.5 GW power plant by a consortium of contractors Zarubezhneft, Total, Siemens and Novatek in Ca Na, Ninh Thuan.

Ms. ENGolm, Novatek Business Development Director, said that the Group has a great interest in the liquefied gas sector in Vietnam, not only including participation in the Ca Na project with partners Zarubezhneft, Total, Siemens but also related to accessing Vietnam's growing gas market.

Sharing at the meeting, Deputy Minister Nguyen Sinh Nhat Tan said that on April 23, 2020, the Prime Minister of Vietnam issued Document No. 479/TTG-CN on adding Ca Na LNG Power Centers to the National Power Development Plan and assigned the People's Committee of Ninh Thuan province to take charge of presiding over and coordinating with the Ministry of Industry and Trade, Vietnam Electricity Group (EVN) and relevant authorities to organize bidding to select investors to implement LNG gas power plant projects at the LNG Power Centers.

The Ministry of Industry and Trade has issued Document No. 4048/BCT-DL dated June 5, 2020 to the People's Committee of Ninh Thuan province on guiding a number of contents related to the Ca Na LNG Power Center (on investment in the construction of LNG port warehouses; business model and LNG price mechanism, regasification gas price supplied to power plants; master plan and investment mechanism for construction of shared infrastructure; electricity price calculation; connection plan; investor selection...).

The People's Committee of Ninh Thuan province has decided to recognize the Consortium as an investor meeting the preliminary requirements on capacity and experience in implementing the Ca Na LNG Power Complex project, phase 1.

The Deputy Minister of Industry and Trade has high expectations for investors when implementing projects on the use of liquefied natural gas and hopes that Novatek will implement the integrated power plant project as soon as possible.

In the middle of last year, Ms. Elena Golm, Director of Business Development and Head of M&A, along with the Group's commercial directors and LNG investment development directors, came to Vietnam and worked with PV GAS on LNG trading for the period 2023-2026. At the same time, the two sides promoted the working progress and discussed investment cooperation plans for the Group's LNG power project chain in Vietnam.

Public Joint Stock Company (PAO) “Noavtek” (Novatek Group) was founded in 1994, its main business is exploration, production, processing of natural gas and liquid hydrocarbons. Pao Novatek is known as the largest independent natural gas producer in Russia.

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