PetroVietnam to sharply increase gas output

The Vietnam Oil and Gas Group (PetroVietnam) has announced that in the 2007-2010 period, it will strive to provide 6.1 to 9.1 billion cubic metres of gas for consumption each year, while spending about US$4.5 billion on exploring and exploiting gas and building gas pipes and storage.

To achieve these targets, the group has asked its gas corporation to collect and bring ashore 100 percent of its exploited gas, as well as selling gas with a high carbon dioxide content.

PetroVietnam’s gas company is preparing to import natural gas from Malaysia and Indonesia to supplement domestic shortages. The company is also stepping up construction of gas pipes connecting the Phu My Gas, Power and Nitrogenous Fertiliser Complex and HCM City and other pipes in southern Can Tho province.

Vietnam boasts great reserves of gas (about more than 2,000 billion cubic metres), but only 400 billion cubic metres have been assessed. It is predicted that the country will lack about 0.4 billion cubic metres of gas in 2007 and 1.8 billion in 2010

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