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Deputy PM asserts investment promotion in oil and gas   2008-11-12 - VNA

he Vietnamese government has always encouraged and created favourable conditions for investment in the petroleum industry, ensuring the investors’ legitimate interests.

The statement was made by Deputy Prime Minister Nguyen Sinh Hung at the 10 th Gas Information Exchange for the Western Pacific Conference & Exhibition (GASEX 2008), which opened in Hanoi on Nov. 12.

The Deputy PM affirmed that Vietnam pays much attention to the sustainable development of the oil and gas sector, which is manifested in its energy development strategy towards 2025 with a vision to 2050.

“The government is improving the legal framework and infrastructure to for comprehensive development of the oil and gas industry,” he said.

Hung also said that GASEX 2008, themed “Sustainable Integration and Development”, is a golden chance for Vietnamese businesses and foreign partners to exchange experiences and build an effective investment cooperation in the attractive and potential industry.

The four-day event will focus on five main contents, including regional and global issues, the development of the energy and gas industry, gas business, natural gas exploitation technologies and gas management skills.

According to General Director of the Vietnam National Oil and Gas Group (PVN) Tran Ngoc Canh, with an annual gas output of 1.5-2 billion cu.m taken from the Bach Ho (White Tiger) Field, natural gas is an important clean energy source that contributes 40 percent of electricity, 40 percent of liquefied gas and 35 percent of nitrogen outputs.

However, Vietnam only has three gas pipelines with a total length of 1,000 km in the southern region, Canh said, adding that PVN is planning to build a natural gas pipeline connecting Vietnam and other regional countries.

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