Deputy PM asserts investment promotion in oil and gas

Hanoi (VNA) - The Vietnamese government has always encouraged and
created favourable conditions for investment in the petroleum industry, ensuring the investors' legitimate interests.

The statement was made by Deputy Prime Minister Nguyen Sinh Hung at the 10
th Gas Information Exchange for the Western Pacific Conference & Exhibition
(GASEX 2008), which opened in Hanoi on Nov. 12.

The Deputy PM affirmed that Vietnam pays much attention to the
sustainable development of the oil and gas sector, which is manifested in
its energy development strategy towards 2025 with a vision to 2050.

"The government is improving the legal framework and infrastructure to for
comprehensive development of the oil and gas industry," he said.

Hung also said that GASEX 2008, themed "Sustainable Integration and
Development", is a golden chance for Vietnamese businesses and foreign
partners to exchange experiences and build an effective investment
cooperation in the attractive and potential industry.

The four-day event will focus on five main contents, including regional
and global issues, the development of the energy and gas industry, gas
business, natural gas exploitation technologies and gas management skills.

According to General Director of the Vietnam National Oil and Gas Group
(PVN) Tran Ngoc Canh, with an annual gas output of 1.5-2 billion cu.m taken
from the Bach Ho (White Tiger) Field, natural gas is an important clean
energy source that contributes 40 percent of electricity, 40 percent of
liquefied gas and 35 percent of nitrogen outputs.

However, Vietnam only has three gas pipelines with a total length of 1,000
km in the southern region, Canh said, adding that PVN is planning to build a
natural gas pipeline connecting Vietnam and other regional
countries.-Enditem