Vietnam, Russia to sign energy deal: Hanoi
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The cost of 95-octane petrol and diesel in Vietnam has shot up by 50 per cent and 70 per cent, respectively.
PHOTO: EPA
HANOI – Vietnam’s Prime Minister Pham Minh Chinh left on March 22 for an official visit to Russia during which the two nations will sign several agreements, including on oil and gas cooperation, Hanoi said.
Mr Chinh’s trip to the major oil-producing nation from March 22 to 25 comes as Vietnam seeks to shore up its fuel reserves amid global supply disruptions caused by the war in the Middle East.
His visit will focus on deepening ties with Russia and expanding cooperation in trade, investment and energy, Vietnam’s government said in a statement on March 22.
“During this visit, a series of important agreements related to nuclear power plant projects, as well as cooperation in energy and oil and gas will be signed,” another statement from Hanoi said on March 21.
“Cooperation in oil and gas energy will be reinforced in all fields of trade, exploration, extraction and human resource training,” it added.
Since the US-Israeli war against Iran began in late February, sparking fuel price hikes and fears of shortages worldwide, the cost of 95-octane petrol and diesel in Vietnam, a manufacturing hub, has soared by 50 per cent and 70 per cent, respectively.
Mr Chinh held phone talks recently, asking for fuel support from several countries, including Qatar, Kuwait, Algeria and Japan, according to Hanoi.
He is scheduled to meet his Russian counterpart Mikhail Mishustin on March 23, Moscow said.
They will discuss “issues of Russian-Vietnamese trade”, with a focus on implementing joint projects in the energy and other sectors, according to a Russian government statement released on March 19.
During a visit by Mr Mishustin to Hanoi in January 2025, Russia said it was “ready to participate in building a national nuclear power industry in Vietnam”, and the two nations would work together on joint oil and gas projects, according to a joint statement.
The two sides also signed a deal on nuclear energy at the time, with Mr Chinh saying his country would aim to build a nuclear power plant within five years. AFP
