Joint venture will be established to oversee the project.
A memorandum of cooperation signed recently in Moscow defines key areas of cooperation and stipulates that efforts will be taken to convert Ho Chi Minh City’s public transport vehicles to use natural gas as fuel.
Gazprom considers the natural gas vehicle (NGV) fuel market as a promising area of its activities targeted at increasing the economic efficiency of Russian gas sales abroad.
Gazprom and Petrovietnam have a history of successful cooperation in natural gas prospecting and exploration. The memorandum of cooperation in natural gas use as expands the energy cooperation between Russia and Vietnam.
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