Novatek in advanced stage of negotiations on LNG supplies to Vietnam, supplies may start in 2027, discussing project on energy, LNG supplies with Petrovietnam

MOSCOW. Sept 9 (Interfax) - Novatek is in an advanced stage of negotiations on the supply of liquefied natural gas (LNG) to Vietnam, the head of the Russian company Leonid Mikhelson told journalists.

"We are in a very well-advanced stage," Mikhelson said, noting that the first supplies could begin next year.

"But we are conducting more large-scale discussions. Yesterday there was a big meeting with Petrovietnam; [we agreed] to create a working group to consider large projects in Vietnam related to energy and LNG supplies," Mikhelson said.

Novatek signed a memorandum of understanding on cooperation with Petrovietnam in 2024. President Vladimir Putin said that Russia can both participate in the construction of natural gas liquefaction facilities in Vietnam and supply LNG to the country.

The company is discussing a project for LNG supplies to both an existing power plant and one under construction with Petrovietnam, whose own production is declining, Mikhelson said.

President Putin is currently meeting with the Vietnamese President To Lam at the Kremlin.