The Vietnamese government has pledged to create favorable conditions for investment in the national oil and gas industry as well as to ensure investors' legitimate interests, the Vietnam News Agency-run Vietnam & World Report reported.
Deputy Prime Minister Nguyen Sinh Hung made the statement at the 10th Gas Information Exchange for the Western Pacific Conference and Exhibition (GASEX 2008) taking place in Hanoi from November 12-15.
According to the national energy development strategy towards 2025 with a vision to 2050, Vietnam will pay due attention to sustainable development of the oil and gas sector, Hung affirmed.
“Vietnam will continue improving legal framework and infrastructure for comprehensive development of the oil and gas industry,” he attributed.
GASEX 2008 entitled “Sustainable Integration and Development” creates a good chance for domestic and foreign businesses to share information and experience and build effective investment cooperation in the oil and gas industry, Hung emphasized.
The event will mainly focus on regional and global issues, energy and gas development, gas trading, natural gas exploitation technologies and gas management skills.
With an annual gas output of between 1.5 billion and 2 billion cubic meters sourced from Bach Ho (White Tiger) oilfield, natural gas is currently an important clean energy source that contributes 40 per cent of electricity, 40 per cent of liquefied petroleum gas (LPG) and 35 per cent of nitrogen output, said Tran Ngoc Canh, general director of the state-owned oil monopoly PetroVietnam group.
Currently, Vietnam has three gas pipelines with a combined length of 1,000 kilometers in the southern region, Canh said, adding that PetroVietnam plans to build a natural gas pipeline connecting Vietnam and other regional countries. (Labor, Young People, VNA)
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