The possibilities of Russia-Vietnam cooperation in the fuel and energy sphere

Abstract

The author has made an attempt to show a great potential of Russia-Vietnam cooperation in the fuel and energy sphere basing on the identification of the emerging trends and needs of Vietnamese economy and Russian possibilities. In particular, the article shows the state and perspectives of hydrocarbon and energy sectors of the Vietnam national economy. It demonstrates that: the decline in oil production due to the exhaustion of existing oil fields in Vietnam and the inability to meet the growing demand for gas on its own show the necessity of the increase in hydrocarbon import; instability and high cost of energy production relied on renewable energy sources want to increase the capacity of traditional types of energy. The obstacles are such factors as a significant growth of the world prices, and increasing dependance on LNG suppliers, as well as the climate agenda. To settle the problems, Russia being the leader at the world energy and fuels can contribute significantly to Vietnams energy security. Besides, Moscow maintaining leading positions in construction and exploitation of advanced NPPs could make for Hanois return to the national nuclear program. Enhancing cooperation in the hydrocarbon supplies sphere, the implementation of large-scale projects in the nuclear sphere meets both Russias and Vietnams national interests.