Malaysia’s state-owned energy player Petronas has signed an agreement with PV Gas, a subsidiary of Vietnam Oil and Gas Group (Petrovietnam), for the supply of liquefied natural gas (LNG) to Vietnam.
As stated by PV Gas, a Petronas delegation visited its headquarters on March 26, 2025, to discuss the options for promoting cooperation related to the gas and LNG value chain, building on the memorandum of cooperation (MoC) the two companies signed in November 2023. The MoC expanded the scope of cooperation to potential fields such as renewable energy, gas, and petrochemicals.
At this opportunity, the two players also signed an agreement to supply LNG shipments for delivery in early April 2025 with an estimated value of VND 1,000 billion, or $39 million. This is described as an important milestone, marking the start of LNG trade cooperation between the two partners in the Vietnamese market.
The two sides also discussed potential cooperation opportunities in the gas and LNG value chain to meet Vietnam’s growing energy needs. This entails supply and investment in infrastructure development in the gas industry and other related fields.
The partners agreed to explore options for cooperation agreements in the coming time, including the possible purchase and sale of LNG under medium and long-term contracts.
PV Gas has been busy securing LNG deals lately. Earlier this month, agreements were inked with two Texas-based energy majors, Excelerate Energy and ConocoPhillips, to cooperate on sourcing LNG from the United States.