Construction of Vietnam's first LNG terminal to begin next month

The two countries in February agreed to set up a special panel to work out how they can jointly explore offshore oil and gas in areas both sides claim.

Having produced oil and gas from the waters off the southern coast for years, energy giant, state-owned PetroVietnam, is now in the search for fossil fuels in the mountainous areas.

State-owned PetroVietnam and Russia’s oil and gas companies on Monday signed a number of cooperation agreements and memoranda to expand their ties in energy sector.

Saudi Aramco, the biggest energy firm in the world, is looking at potential joint ventures in several countries, including Vietnam, Indonesia, India, the United States, and China, Reuters reported this week, citing company’s chief executive Amin Nasser.

PetroVietnam is planning energy projects in Vietnam’s Central region to take advantage of the largest gas field ever discovered in the East Sea, the company said in a statement Tuesday.