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FINANCIAL NEWS
QatarGas, PV Gas discuss gas importing deal
06 Aug 2011
(MENAFN) PV Gas, subsidiary of the Vietnamese state oil and gas group Petrovietnam, stated that it is currently in negotiations with QatarGas for importing liquefied natural gas (LNG), reported Reuters.
PV Gas is expanding its list of potential natural gas suppliers as the fuel becomes increasingly important for power generation. Last year gas accounted for 31.7 percent of the power mix, after hydropower’s 37.6 percent.
Vietnam already has plans to buy gas from Southeast Asian nations such as Indonesia, Thailand and Malaysia via the trans-ASEAN pipeline.
Qatar can now produce up to 77 million tonnes of super cooled gas a year and had been struggling to find buyers for it until a tsunami wrecked Japan’s Fukushima nuclear power plant in March, increasing the country’s need for other energy sources.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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