At the reception for Vitaly Markelov, Deputy Chairman of Gazprom – a major Russian energy corporation, the top Vietnamese legislator praised Gazprom for its effective collaboration with the Vietnam Oil and Gas Group (Petrovietnam) and highlighted the successful joint projects undertaken by the two companies in both countries.

He assured the Russian company that Vietnam is committed to protecting the legitimate interests of investors, saying that both the Vietnamese NA and Government are dedicated to supporting foreign enterprises and ensuring their stable and long-term operations in Vietnam.

Man noted the significant potential for further cooperation between Vietnam and Russia but pointed out that bilateral trade in the first half of this year reached only about US$2.7 billion. The NA leader suggested that collaboration in oil and gas projects could help the sides achieve the goal of US$10 billion in bilateral trade by 2030. Energy remains a cornerstone of the countries’ relationship, he said calling for intensified efforts in this sector.

For his part, Markelov expressed gratitude for the Vietnamese NA’s support in advancing Gazprom's cooperation with Petrovietnam in exploration, extraction, and scientific research.

Gazprom is eager to step up collaboration with Vietnam, including the supply of liquefied natural gas (LNG) serving the country's economic and social development needs, he stated. The business leader also offered to share Gazprom's expertise in oil and gas exploration with Petrovietnam.

In the same day, the top legislator hosted a representative of Novatek, the largest independent natural gas producer in Russia, during which he expressed his pleasure at learning that Novatek and Petrovietnam have exchanged a memorandum of understanding in Vietnam.

The legislative leader affirmed that Vietnam always pays attention to strengthening cooperation with Russia in various economic, trade, and investment sectors, including Novatek’s oil and gas activities. He said he believes that the group and Petrovietnam will soon develop their business plans and strategies.

The company’s representative noted that it has joined Vietnamese partner in LNG projects in Vietnam and requested continued support from the Vietnamese NA and Government via the improvement of the country’s legal framework that facilitates business investment and operations.