Reference
This document was submitted by the Ministry of Energy of the Russian Federation.
The draft Agreement specifies the terms of cooperation in the maintenance and further development of the Dung Quat petrochemical oil refinery (hereinafter referred to as the Refinery).
The Refineryis owned, maintained and developed by the Nghi Son Refinery and Petrochemical Limited Liability Company (the Socialist Republic of Vietnam) (hereinafter referred to as the Nghi Son Company).
According to the draft Agreement, the Socialist Republic of Vietnam grants 49% of the Nghi Son Company’s charter capital to the Open Joint Stock Company Gazprom with an option to increase its shares at a later date.
To promote the economic efficiency of the Refinery, Vietnam shall provide a number of rights to the Nghi Son Company, including the rights to import oil, export oil and petrochemical products and to distribute oil and petrochemical products on the domestic market.
The Russian Federation shall create the necessary conditions for Gazprom to deliver oil through the Eastern Siberia-Pacific Ocean oil pipeline and to export oil through the Kozmino sea oil-loading port.
The Agreement is valid for 25 years.