OREANDA-NEWS. Tokyo Gas Co., Ltd. and PetroVietnam Gas signed a memorandum of understanding (MOU) on December 12 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 (Comprehensive MOU), and have been in discussions since then on the specifics of the cooperation. The feasibility study on energy solution business is the first time for the two companies to collaborate under the Comprehensive 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. Through market surveys and a series of discussions, 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.

The companies therefore decided to go onto the next stage of a more detailed feasibility study.

The Tokyo Gas Group will continue to utilize its technologies and expertise in total energy businesses on behalf of customers operating in Southeast Asia and North America, helping them with energy solutions, while engaging in local infrastructure development. The Group is also taking up the challenge of value chain development in each region, including through partnerships with local energy companies.