TOKYO -- Japan's JXTG Nippon Oil & Energy will tie up with a Vietnamese state-owned oil company on liquefied natural gas, the companies said Monday, with the duo expected to build facilities and collaborate on procurement in the Southeast Asian country.
Vietnam National Petroleum Group, or Petrolimex, aims to invest the equivalent of around $4 billion on LNG receiving facilities and power plants in Vietnam, and JXTG -- which has its own LNG receiving facilities in Japan -- will offer operational expertise. JXTG and Petrolimex signed a memorandum of understanding in Tokyo.
