Japan's JXTG, Vietnam's Petrolimex sign MOU to develop LNG business
7/1/2019
Japan’s JXTG Nippon Oil & Energy, a unit of JXTG Holdings said it has signed a memorandum of understanding with Vietnam National Petroleum Group (Petrolimex) to develop a liquefied natural gas (LNG) business in Vietnam.
The two companies will jointly consider a cooperative LNG business across the country, it said.
XTG, which holds an 8% stake in Petrolimex, said in April 2018 that the two firms would work on a feasibility study on a joint project using JXTG’s 120,000 barrels-per-day Marifu Refinery in western Japan, but the project has been delayed, a JXTG spokesman said.
(Reporting by Yuka Obayashi; editing by Christian Schmollinger)
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