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Russia's Novatek in LNG Export Discussions for Vietnamese Power Demand

LNG

Russia’s Novatek is considering exporting LNG to Vietnam for existing and future power plants according to its CEO Leonid Mikhelson.

  • He said he was unsure of possible timelines.
  • "There is another [project] there. And in principle the consumer there, a power plant, is being built, launched in 2024. And there is an existing one in the same region. I just spoke with the minister, it uses about 1 billion cubic meters of gas, while PetroVietnam's own production is falling, so we could actually add [gas] there. The whole question is the cost," Mikhelson said.
  • Russia is seeking new markets to send its gas now that flows towards Europe have almost entirely dried up.

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