Vietnam has taken another significant step in strengthening its long-standing energy partnership with Russia, deepening cooperation with state-owned nuclear energy corporation Rosatom and oil and gas major Zarubezhneft. The latest agreements, announced during high-level Vietnam-Russia engagements in Kazan this week, reinforce collaboration across nuclear energy, upstream hydrocarbons, offshore energy development, technology transfer, and long-term energy security initiatives.
The collaboration also comes as Vietnam pursues an ambitious strategy to expand electricity generation capacity and diversify its energy mix. Hanoi is also looking forward to support rapid industrial growth in the country while advancing its energy transition goals. Recent discussions between government officials and corporate leaders from both countries emphasized the strategic importance of expanding existing partnerships and accelerating implementation of major energy projects.
More on the Vietnam, Rosatom and Zarubezhneft Partnership on Nuclear, Renewables and Oil & Gas
The latest cooperation framework builds on decades of Vietnam-Russia energy collaboration, particularly through Zarubezhneft’s partnership with Vietnam’s national energy group, Petrovietnam. The relationship has been anchored by the successful Vietsovpetro joint venture, which remains one of the most enduring symbols of bilateral economic cooperation. The Vietsovpetro joint venture has also played a pivotal role in the development of Vietnam’s oil and gas industry.
Recent discussions between Vietnamese officials and Zarubezhneft executives have focused on extending cooperation beyond traditional oil and gas activities into offshore wind power, electricity development, technology transfer, and potential joint investments in third-country markets.
At the same time, nuclear energy has emerged as a central pillar of Vietnam’s long-term energy strategy. Rapid economic expansion, increasing industrial electricity demand, and recurring power shortages have prompted Hanoi to revive its nuclear power program after years of suspension. The government has also identified nuclear energy as a critical source of stable baseload generation capable of supporting future economic growth while contributing to carbon reduction objectives.
Rosatom Advances Vietnam’s Nuclear Power Ambitions
A key component of the expanded partnership is the development of the Ninh Thuan 1 Nuclear Power Plant by Rosatom. In March 2026, Vietnam and Russia signed an intergovernmental agreement establishing the framework for construction of the country’s first nuclear power station, marking a major milestone in Vietnam’s return to nuclear energy. The project is expected to feature two VVER-1200 reactor units with a combined installed capacity of approximately 2,400 MW.
According to Rosatom, the project forms part of a broader program designed to strengthen Vietnam’s energy independence and improve grid reliability. Ninh Thuan 1 Nuclear Power Plant is also being developed to support the country’s long-term development objectives. Additionally, Vietnam’s revised Power Development Plan identifies substantial investment requirements in generation and transmission infrastructure through 2030. Nuclear energy is expected to play an increasingly important role in meeting future electricity demand.
The Ninh Thuan program is also expected to support technology transfer, workforce development, nuclear science cooperation, and the establishment of a domestic nuclear industry ecosystem. Vietnam has also indicated plans to add further nuclear generating capacity by 2050 as part of its broader energy diversification strategy.
Oil, Gas and Emerging Renewable Energy Opportunities
Beyond nuclear energy, Zarubezhneft and Petrovietnam continue to expand cooperation across upstream and downstream energy activities. Existing agreements signed in 2025 extended the operations of key Vietnam-Russia oil and gas joint ventures through 2050, This provided long-term certainty for continued investment and production activities.
The companies are also evaluating opportunities in offshore wind development, electricity generation and rare earth resources. Vietnamese authorities have publicly expressed support for broader collaboration with Zarubezhneft in areas aligned with the country’s energy transition and industrial development goals.
Recent Vietnam-Russia business forums have additionally highlighted new energy cooperation initiatives involving liquefied natural gas (LNG), infrastructure development, science and technology collaboration and renewable energy investments.
What Next for the Vietnam, Rosatom and Zarubezhneft Partnership on Nuclear, Renewables and Oil & Gas
The strengthening partnership between Vietnam, Rosatom, and Zarubezhneft represents one of the most significant developments in Southeast Asia’s energy sector. For Vietnam, the agreements support national objectives to enhance energy security and reduce the frequency of power shortages. It also supports Hanoi’s bid to create a more diversified electricity generation portfolio capable of supporting sustained economic growth.
For Russia, the expansion of cooperation reinforces its position as a major strategic energy partner in Southeast Asia. It also creates long-term opportunities across nuclear energy, hydrocarbons, infrastructure and emerging low-carbon technologies.
As implementation advances on the Ninh Thuan 1 Nuclear Power Plant and additional oil, gas, and renewable energy initiatives move forward, the partnership is expected to strongly feature as a cornerstone of Vietnam’s future energy landscape.
Vietnam-Russia Energy Cooperation Expansion at a Glance
Key Partners:
- Rosatom
- Zarubezhneft
- Petrovietnam
- Government of Vietnam
- Government of Russia
Major Components:
- Ninh Thuan 1 Nuclear Power Plant
- Oil and gas exploration and production cooperation
- Offshore wind development opportunities
- LNG cooperation initiatives
- Technology transfer programs
- Nuclear science and workforce development
Ninh Thuan 1 Nuclear Plant Capacity:
- 2 units of VVER-1200 reactors
- Total capacity: 2,400 MW
Target Commissioning Date:
- Mid-2030s
Strategic Objectives:
- Energy security
- Grid reliability
- Industrial growth support
- Reduced dependence on imported fuels
- Long-term decarbonization goals
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