Russia and Vietnam have agreed several new oil and gas development deals including Joint Ventures in each others countries. Russian investors are also eying Vietnamese oil fields and refining facilities in the South China Sea.
Russia’s Energy Minister, Sergei Tsivilev has stated that Russia has enough oil and gas supplies to meet its own needs, fulfill outstanding contracts, and supply all countries who ask for deliveries. He said ‘a profound transformation is happening, even in mindsets’ as regards global energy supplies and Western sanctions policies.
Russia and Vietnam have signed Nuclear Energy Agreements that pave the way for the development of a NPP in Vietnam. The agreement provides for the construction of a 2,400 MW NPP, and regulates the terms and key areas of cooperation between the parties in implementing the project. It sets up the necessary legal framework for the plant’s construction and will determine the course of Russian-Vietnamese nuclear cooperation for decades to come.
Russia’s Segezha Group plans to begin supplying LNG tanker plywood to an Asian – possibly South Korean – shipyard for the construction of seven LNG container vessels. Segezha estimates that annual global demand for LNG plywood in shipbuilding totals tens of thousands of cubic meters and intends to be a major industry supplier.
Russia is looking to increase supplies of pork and grain to Vietnam after Vietnam’s Prime Minister, Pham Minh Chinh discussed the matter with Russia’s Minister of Agriculture, Oksana Lut, in Moscow. Vietnam has Asia’s highest per capita consumption of pork meat.
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Russia’s RZD Logistics are reporting an easing of rail transport problems along the INSTC and are saying that trains servicing the routes via Iran are now being booked for the March and April.
The Russian Foreign Minister Sergey Lavrov has met with the Ambassadors of all of the ASEAN countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, in Moscow. They discussed improving Russia’s multilateral trade with the bloc as well as developing relations between ASEAN and BRICS, the Eurasian Economic Union and Shanghai Cooperation Organisation.
Belarus is starting to become another air corridor to the Far East as Belarus introduces thrice-weekly direct flights to Nha Trang in Vietnam, a popular coastal resort on the South China Sea.
Russia’s Tugansk Mining and Processing Plant in Tomsk is investing over US$500 million to upgrade its production of zirconium concentrate to both dominate the domestic Russian market and become an exporter to Asia. Zirconium concentrate is a valuable mineral resource with a wide range of applications across various new tech and energy industries.
Russia’s Rosatom and Resurs of Chelyabinsk have signed agreements to exports and supply groats to several Asian markets due to increasing consumer demand. delivery will be by rail to Vladivostok and by shipping to Asian ports although overland deliveries are also being worked out. Global consumption of groats is rapidly increasing.
The Philippines has become the third largest importer of Russian pork after Vietnam and China, and ahead of Hong Kong and Mongolia. The world’s largest pork consumers per capita are in Europe, with Russia’s supplies to Asia adequately showcasing the changing supply chains in global markets.
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