3 Vietnam state energy firms enter strategic partnership

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Representatives of TKV, PetroVietnam, and EVN (left to right) sign a strategic cooperation agreement in Hanoi on February 26

Three state-owned energy companies have entered into a strategic agreement to ensure the nation's energy security, news website VnEconomy reported Tuesday.

The agreement was signed February 26 by the National Oil and Gas Group (PetroVietnam), Electricity of Vietnam (EVN), and the Vietnam National Coal and Mineral Industries Group (TKV).

They will jointly invest in building and operating power plants and exploiting and transporting coal, and share services and coordinate communications.

But the three continue to have disagreements related to the pricing of coal and electricity and the interest on the debt owed by EVN to TKV.

As of February 26 EVN owed around VND500 billion to TKV in addition to nearly VND14 trillion (US$669 million) it owes PetroVietnam.

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