Vietnam and Russia have reached a landmark agreement to build Vietnam’s first nuclear power plant, as Hanoi moves to strengthen its energy security amid global fuel disruptions.
The deal was signed during Prime Minister Pham Minh Chinh’s official visit to Russia, although a construction timeline has yet to be announced.Under the agreement, the Ninh Thuan 1 project will include two Russian-designed reactors with a combined capacity of 2,400 megawatts, marking a major step in Vietnam’s long-term energy strategy.In a parallel development, Russia’s LNG producer Novatek signed a preliminary deal to supply liquefied natural gas to Vietnam, according to Russian media reports.
The move comes as global energy markets remain under pressure following disruptions linked to tensions affecting supply routes through the Strait of Hormuz, which have driven up fuel prices and caused shortages in several regions.To reduce dependence on traditional fuels, Vietnam is accelerating efforts to diversify its energy mix. The government is promoting electric vehicles, expanding biofuel use, and strengthening partnerships with countries such as Japan, South Korea, Angola, and Algeria.Vietnam and Russia also plan to deepen cooperation in clean and renewable energy. The two nations share a long-standing partnership in the energy sector, including joint ventures involving PetroVietnam and the historic Vietsovpetro, established in 1981.
