Business & Economy

Russia's Novatek to Begin First LNG Deliveries to Vietnam in 2027: CEO

© POOL / Go to the mediabankRussian President Vladimir Putin with Vietnamese President To Lam in the Kremlin
Russian President Vladimir Putin with Vietnamese President To Lam in the Kremlin - Sputnik India, 1920, 09.09.2026
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Russian energy company Novatek plans to begin its first deliveries of liquefied natural gas (LNG) to Vietnam next year, Novatek CEO Leonid Mikhelson said on Wednesday.
"The first [deliveries] will begin next year. But we are holding discussions on a broader scale as well," Mikhelson told reporters.
When asked about the progress of negotiations with Hanoi on this matter, he said that both sides are in a "very advanced stage."
In March, Mikhelson announced that Novatek had signed a preliminary agreement to supply LNG to Vietnam.
In April 2024, Russia and Vietnam signed a memorandum of understanding on cooperation between Novatek and the PetroVietnam oil and gas corporation. At the same time, Russian President Vladimir Putin said that Novatek intended to carry out LNG projects in Vietnam.
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