Novatek mulls exporting LNG to Vietnam

BAKU. Oct 28 (Interfax) - Novatek is considering exporting liquefied natural gas (LNG) to Vietnam for existing and future power plants, the Russian gas company's CEO, Leonid Mikhelson told reporters.

He said he did "not know when" a project that the company planned to implement in Vietnam in partnership with Siemens and TotalEnergies will begin.

"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, adding that the company is also considering building a regasification terminal in Vietnam.