Moscow strengthens energy ties with Asian ally

Moscow is willing to supply liquefied natural gas (LNG) and oil to Vietnam, as well as help develop its nuclear power sector as it seeks to expand energy cooperation with the Asian nation, Russian Prime Minister Mikhail Mishustin announced on Wednesday.

Russia and Vietnam have also agreed to continue supporting oil and gas projects on each other’s continental shelves, according to a joint statement issued during Mishustin’s two-day trip to Hanoi.

“The two sides acknowledged Russia’s readiness to supply oil, liquefied natural gas and processed products to Vietnam, and the development of new energy projects, including in the field of renewable energy,” the document said.

Mishustin’s visit marks a step towards the practical implementation of strategic agreements inked between Moscow and Hanoi during Russian President Vladimir Putin’s trip to Vietnam last summer.

At the time, Putin highlighted Russia’s ability to both ship Vietnam LNG and establish facilities there for local production.

In a June 2024 article for Nhan Dan, the official newspaper of the Communist Party of Vietnam, Putin announced plans for Novatek, Russia’s leading LNG producer and exporter, to implement LNG projects in the southeast Asian country.

“We are open to launching projects in Vietnam in the fields of nuclear power generation and the development of electric river transport,” TASS quoted the Russian prime minister as saying. “We are also exploring opportunities to supply the country with Russian industrial products featuring a low carbon footprint and liquefied natural gas.”

Russia’s nuclear energy major Rosatom and Vietnam’s state-owned utility EVN also signed an agreement to bolster cooperation in power generation and several other deals during Mishutin’s visit on Tuesday.

Rosatom had been chosen to develop Vietnam’s first nuclear power plant in the central province of Ninh Thuan in the 2010s. The project was suspended in 2016, but Hanoi is now looking to relaunch it.