return icon Vietnamnet.vn

Japanese firm strikes deal to join Vietnam’s LNG market

The Japan Petroleum Exploration Co. Ltd. (JAPEX) and Vietnam’s ITECO JSC have freshly signed a share purchase agreement.

Japanese firm strikes deal to join Vietnam’s LNG market hinh anh 1

 

The Japan Petroleum Exploration Co. Ltd. (JAPEX) and Vietnam’s ITECO JSC have freshly signed a share purchase agreement and a pact on comprehensive cooperation that involves the procurement, storage, and supply of liquefied natural gas (LNG) in Vietnam.

Accordingly, the sides’ collaboration agreements revolves around project design and construction; operation and maintenance; procurement of LNG; finance; sales and marketing; training and developing local human resources in the field of LNG, among others.

Currently, the supply of natural gas in the northern region of Vietnam is on a downward trend and is forecast to face a shortage in the future. The joint work between JAPEX and ITECO is expected to help increase the supply sources.

In addition, the companies will team up to import, store, distribute and supply LNG by both pipelines and tank trucks. Their business project will start operating in the fourth quarter of 2024.

JAPEX Senior Vice President Matthew Tan said JAPEX wishes to promote the diversification of clean energy supply solutions, especially LNG, in the Vietnamese market.

In the long run, JAPEX and ITECO will aim to introduce a variety of clean fuel solutions and seek opportunities in new projects, he added.

According to data from the Foreign Investment Agency under the Ministry of Planning and Investment, as of December 20, 2021, Japan had ranked third among foreign investors in Vietnam with a total registered capital of nearly 3.9 billion USD, up 64.6 percent over the same period in 2020./.

Source: VNA

MORE NEWS

Blockchain industry yearns for new talent

A serious shortage of personnel has become a bottleneck hindering the development of blockchain companies, even though Vietnam is among the top five countries globally in terms of blockchain tech.

Vietnam tops SEA Games 31 medal tally with 125 golds

Vietnam had claimed 125 gold, 76 silver and 74 bronze medals as of May 18 evening, the sixth official competition day of the ongoing SEA Games 31, retaining the top position in the medal table.

Prime Minister Pham Minh Chinh concludes US trip

Prime Minister Pham Minh Chinh and his entourage arrived in Hanoi on May 19, successfully concluding their trip to the US to attend the ASEAN-US Special Summit, and to make visits to the US and the United Nations.

Raising the ‘Mekong river monster’, farmer pockets billions of dong

Ho fish (Catlocarpio siamensis), called the ‘Mekong river monster’, are being raised by farmers in cages on rivers in Vietnam.

Vietnam highlights vital importance of security and safety in East Sea

Senior Lieutenant General Hoang Xuan Chien, Deputy Minister of National Defense led a Vietnamese delegation to attend the ASEAN Defense Senior Officials' Meeting Plus (ADSOM Plus) held in Phnom Penh, Cambodia on May 18.

Two scientists win Ta Quang Buu Award 2022

Specialized scientific councils agreed to nominate five out of 48 dossiers of applications for Ta Quang Buu Award 2022 and its awards for young scientists.

Incumbent, former science, health, securities officials disciplined

Disciplinary measures have been issued for current and former officials of the Ministry of Science and Technology (MoST), the Ministry of Health (MoH) and the State Securities Commission of Vietnam (SSC) for previous wrongdoings.

45% of students have health problems while studying online

A recent survey found that 45 percent of students have had health problems after a long period of online study, according to the Ministry of Education and Training (MOET).

HCM City seeks permission to open casinos, admit people aged 18 and above

The HCM City People’s Committee has asked to allow it to open casinos at 5-star hotels, admitting people aged 18 or higher who have sufficient behavioral capacity and financial capability.

31ST SEA GAMES: UPDATES MAY 19

SEA Games 31: Vietnam defeat Myanmar in women’s football semifinal

Private banks coming strong against state-owned banks

For the very first time, a private bank has overtaken a state-owned bank in Vietnam in consolidated profits in the first quarter of the year.

More than 14 million people receive COVID-19 vaccine passports

The Ministry of Health announced that it has issued more than 14 million COVID-19 vaccine passports to the general public, a month from its official rollout on April 15.

The dreams of growth for Hanoi

In mid-October and early November 2021, when a lockdown was lifted, Hanoi’s leaders organized two dialogues with enterprises.

Foreign investors sell shares, Vietnam businesses under pressure

FPT Corporation has announced changes in its investors’ ownership ratios, while member funds managed by Dragon Capital have sold FPT shares and are no longer major shareholders.

Visiting President Ho's idyllic hometown

It has become a tradition during May every year, that people from across the country and further afield flock to Sen (Lotus) Village in the hometown of beloved President Ho Chi Minh in Kim Lien Commune, the central province of Nghe An.
back_to_top