Gazprom in talks with Petrovietnam for long-term LNG supply contract

By JAMES MARSON

MOSCOW -- OAO Gazprom and Petrovietnam are considering signing a contract for the supply and purchase of liquefied natural gas, Gazprom said in a statement Wednesday, as the Russian state-controlled company continues its efforts to increase sales to Asia.

"The possibility of concluding a long-term LNG sale-and-purchase agreement is being considered," Gazprom said in a statement, after a meeting between its CEO, Alexei Miller, and the chairman of Petrovietnam's board, Phung Dinh Thuc.

Gazprom, the world's largest extractor of natural gas, plans to lift sales to Asia to help offset a drop in demand and regulatory troubles in its most lucrative market, Europe.

It is planning to build a gas liquefaction plant in Vladivostok on Russia's Pacific coast.


Dow Jones Newswires



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