Petronas and Petrovietnam Strengthen Ties in Pursuit of Energy Security and Low-carbon Growth

October 19, 2026 · 10 hours ago

Petronas and Petrovietnam are expanding their 35-year partnership across LNG, upstream development, and low-carbon energy arsenal in Vietnam.

Asian energy giants Malaysia's Petronas and Vietnam National Industry – Energy Group (Petrovietnam) have forged a strategic alliance agreement (SAA) to supercharge Vietnam's energy security, expand liquefied natural gas (LNG) infrastructure, and accelerate low-carbon solutions across the region.

The SAA was signed at Petrovietnam’s headquarters by Tan Sri Tengku Muhammad Taufik, Petronas’ President and Group Chief Executive Officer, and Le Manh Cuong, Petrovietnam’s President and Chief Executive Officer, reaffirming the commitment of both companies to deepen industry cooperation in support of Vietnam’s energy security and long-term development.

This agreement establishes a forward-looking framework for both organizations to leverage their respective strengths and pursue opportunities across the energy value chain, spanning upstream development, gas and LNG, and downstream opportunities, as well as low-carbon solutions.

The duo’s signing of a strategic alliance agreement is said to mark a new milestone in 35 years of collaboration and reaffirms their shared commitment to advancing energy security, sustainability, and long-term value creation.