Tokyo Gas and PetroVietnam Gas signed a memorandum of understanding to conduct a feasibility study on energy solution business in Vietnam.
Tokyo Gas and PV Gas back in March 5, 2012 signed a memorandum of understanding for cooperation on the development of the LNG value chain in Vietnam, and have been in discussions since then on the specifics of the cooperation, Tokyo Gas said in a statement.
The feasibility study on energy solution business is the first time for the two companies to collaborate under the MOU with the aim of LNG value chain development in Vietnam.
Energy demand is expected to increase in Vietnam as the country is in the midst of strong economic growth. Tokyo Gas and PV Gas confirmed the importance of energy conservation and of infrastructure building for expanding the use of environmentally friendly LNG.
In the course of these studies, the two companies discovered the potential for further cooperation in energy solution businesses, such as energy-saving services enabling efficient use of LNG and other energy, and LNG satellite provision to bring LNG to areas not served by gas pipelines, according to the statement.
The companies decided to go on to the next stage of a more detailed feasibility study, it added.
Press Release; Image: Tokyo Gas