Vietnam is strengthening its energy ties with Russia, a traditional partner, while also signaling openness to collaboration in emerging sectors like wind power.

This two-pronged approach was evident during Prime Minister Pham Minh Chinh's April 8th meeting with Sergei Ivanovich Kudryashov, General Director of the Russian oil and gas giant Zarubezhneft.

The meeting occurred against a backdrop of global change. PM Chinh opened the meeting by congratulating Vladimir Putin on his recent landslide re-election as Russia's President, while expressing sympathy for the victims of a recent terrorist attack that underscored Russia's ongoing security challenges.

Deepening Oil & Gas Ties

Prime Minister Chinh emphasized the enduring value Vietnam places on its "comprehensive strategic partnership" with Russia. This relationship includes extensive oil and gas cooperation, a sector he described as a "very important pillar" of bilateral ties.

Highlighting the long history of collaboration, he praised the success of Vietsovpetro and Rusvietpetro, joint ventures between Zarubezhneft and Vietnam's Petrovietnam. Both companies have played key roles in developing Vietnam's oil and gas resources.

The Vietnamese leader pledged his government's support for mutually beneficial cooperation in the oil, gas, and energy sectors. He affirmed Vietnam's commitment to protecting the legitimate rights of foreign investors, including Russian energy firms.

Exploring Wind Power Potential

Significantly, Zarubezhneft revealed the company is keen to expand its Vietnam portfolio beyond traditional oil and gas. Kudryashov expressed interest in offshore wind power development, aligning with Vietnam's rising focus on renewable energy. He also sought continued support for expanding Rusvietpetro's projects within Russia.

Prime Minister Chinh welcomed Zarubezhneft's potential diversification, instructing the company and Petrovietnam to form a working group to explore collaboration possibilities. He also called for the resolution of any outstanding issues in current oil and gas projects and support for Petrovietnam's investment ambitions in Russia.