Norwegian largest energy company Equinor opens representative office in Hanoi

Equinor’s leaders and the guests at the opening ceremony of the representative office in Hanoi

This reaffirms Norway’s will and determination to contribute to the development of Vietnam’s offshore wind industry and to be part of Vietnam’s green transition.

Addressing the opening ceremony, Grete Løchen, Ambassador of Norway to Vietnam said, “Renewable energy and climate are the top priorities for the Norwegian government. Climate change is the main challenge of our time. Meanwhile, globally, the energy sector is the primary source and makes nearly three-quarters of the greenhouse gas emissions. We have to transform the way we produce and consume energy if we want to achieve the goals envisioned in the Paris Agreement and COP26."

Grete Løchen, Ambassador of Norway to Vietnam, gave a speech at the event

“For this cause, Norway will continue its active engagement in international climate diplomacy and work towards further strengthening global cooperation in this process. It is a priority for the Norwegian government to work closely with business and industry to succeed in a just transition towards a renewable, circular, and sustainable future. Therefore, I’m very pleased and proud today that Equinor is making its commercial presence in Vietnam and opening its country office in Hanoi,” she noted.

With the establishment of its local presence in Vietnam, Equinor expects to use its experience and competence together with its local partner, PetroVietnam, to successfully develop Vietnam’s offshore wind industry by implementing offshore wind projects, improving local competence and capacity, and building a strong local supply chain for the offshore wind industry, as well as creating more skilled jobs locally, generating power at lower costs, gradually making renewable energy affordable for all, and assisting Vietnam’s green transition.

Jens Olaf Økland, Equinor’s senior vice president

Equinor’s senior vice president Jens Olaf Økland added, “We believe Vietnam has high potential to become an interesting growth market for offshore wind. Equinor wants to take part in maturing the offshore wind industry in Vietnam and is therefore happy to establish a local presence in Hanoi. Together with our local partners, our ambition is to utilize our offshore experience and broad energy competence to support Vietnam’s energy transition, paving the way for renewables growth.”

Being present at the event, Pham Tien Dung, vice president of PetroVietnam said Equinor and PetroVietnam have many things in common as they are both state oil and gas corporations that want to transform into energy companies.

“We very much value the credibility, experience, and technology of Equinor. To us, Equinor is the main partner to our renewable energy portfolio, particularly offshore wind,” he added.

This move is expected to mark an important milestone in the Norwegian-Vietnamese business cooperation. Vietnam is one of the world's fastest-growing economies and power markets. With its long coastline and favourable wind conditions, the country has some of the best wind resources in Asia and a strong desire to develop an offshore wind market.

Norway has been actively supporting green transition efforts globally. The country builds on world-leading competence and technology from the oil and gas industry in new sectors, including offshore wind power, hydrogen, carbon capture and storage, and green shipping.

Norway plans to double its climate finance by 2026 including a plan for allocating $1 billion over five years to a new climate fund, which will be managed by Norfund, the Norwegian Fund for Developing Countries.