Royal Dutch Shell has reached a landmark agreement to supply Petrovietnam Gas with 400,000 metric tons of liquefied natural gas per year beginning in 2027. This marks Petrovietnam Gas’ inaugural long-term LNG procurement deal and reinforces Shell’s strategic ambition to deepen its presence in Vietnam’s growing gas market. The contract covers a duration of five years and will be serviced from Shell’s global LNG portfolio, leveraging supply from its integrated liquefaction facilities. Analysts note that Vietnam’s gas demand is projected to grow by 6 percent annually through 2030, underlining the potential for further long-term partnerships.

Shell has agreed to purchase Chevron’s interests in two undeveloped offshore blocks located in ultra-deep waters off the coast of Angola. The deal, announced on Tuesday, transfers Chevron’s combined 40 percent working interest in Block 15/06 and 20 percent interest in Block 20/11 to Shell. These blocks cover approximately 2,500 square kilometers and sit in water depths exceeding 2,000 meters. Shell will assume operatorship of Block 15/06, which hosts the Tulipa prospect estimated to contain 150 million barrels of recoverable oil equivalent. The transaction is subject to Angolan government approval and is expected to close in the fourth quarter, further diversifying Shell’s upstream portfolio in Sub-Saharan Africa.