Vietnamese and US businesses on March 13 signed various economic and trade cooperation agreements with a total value of $4.15 billion.

The agreements were signed as part of a working trip to the US, made by the Prime Minister's Special Envoy, Minister of Industry and Trade Nguyen Hong Dien.

PetroVietnam Gas Joint Stock Corporation (PetroVietnam PV Gas) signed Memoranda of Understanding with ConocoPhillips, an independent exploration and production company, and Excelerate Energy regarding long-term liquefied natural gas (LNG) purchase agreements.

Binh Son Refining and Petrochemical Joint Stock Company (BSR) established a contract with Kellogg Brown & Root Services, Inc. (KBR) for pre-feasibility studies on sustainable aviation fuel.

PetroVietnam Power Corporation (PVPower) and GE Vernova signed a Memorandum of Understanding on the procurement of equipment and services for gas-fired power plants developed by PVPower.

Meanwhile, the Vietnam National Petroleum Group (Petrolimex) inked MoUs with three leading US ethanol associations, namely US Grains Council, Renewable Fuels Association, and Growth Energy on ethanol supply. It also secured an MoU with Marquis Energy to facilitate biofuel transactions and imports. The agreements are significant as Vietnam is pushing its timeline for biofuel use.