Russia to Engage in Oil and Gas Projects on Vietnam's Continental Shelf

Russia also intends to supply Vietnam with oil, liquefied natural gas, and its processed products

This became known following the two-day official visit of Russian Prime Minister Mikhail Mishustin to Vietnam.

As TASS notes, at a meeting with representatives of Russian and Vietnamese business circles, Mishustin shared prospects for the development of bilateral trade and economic relations and global initiatives.

We are open to launching projects in Vietnam in the field of nuclear generation and the development of river electric transport. We are also exploring the possibility of supplying the republic with Russian industrial products with a low carbon footprint and liquefied natural gas.
Mikhail Mishustin, Prime Minister of the Russian Federation

According to the press service of the Russian government, Moscow and Hanoi agreed during negotiations to"continue creating favorable conditions for the implementation of joint oil and gas projects on the territory of the Russian Federation and on the continental shelf of Vietnam". The work will be carried out in accordance with the legislation of the two countries and international law, including the 1982 UN Convention on the Law of the Sea.

The parties also noted Russia's readiness to supply oil, liquefied natural gas and products of its processing to Vietnam, and to develop new energy projects, including in the field of renewable energy. Russia is ready to join in the creation of a national nuclear energy sector in Vietnam: it is actively involved in the project to build a Center for Nuclear Science and Technology in this republic.

In addition, Russia and Vietnam agreed to develop rail and sea links, as well as multimodal cargo transportation.

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