Gazprom, PetroVietnam Form Joint Venture to Work in Natural Gas for Vehicles Space

Gazprom and PetroVietnam have formed a joint venture to implement projects in the sphere of natural gas as a vehicle fuel usage.

On the October 15, the Investment Planning Department of Ho Chi Minh City issued a registration certificate finalizing the procedure of registration of a joint venture, Gazprom International said in a statement last week.

Partners in the joint venture firm, PVGAZPROM Natural Gas For Vehicles LLC, are Gazprom International (35.5 percent), Gazprom Gas Engine Fuel LLC (35.5 percent) and PetroVietnam Gas (29 percent).

PVGAZPROM NGV will construct and commission of natural gas liquefaction facilities, cryogenic and multi-fuel filling stations, individual fuel pumps for water transport, liquefied natural gas acceptance, storage and regasification facilities, vehicle refit and service depots and other objects of gas engine infrastructure for servicing machines and mechanisms using natural gas as vehicle fuel.

The agreement of incorporation of a natural gas for vehicles joint venture was signed in November 2013 in Hanoi.