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Petrovietnam, Korea-Based Kepco Intensify Cooperation on Nuclear Power

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Vietnam National Energy and Industr, or Petrovietnam, representatives have met with Korea Electric Power, or Kepco, to discuss implementation of cooperation agreements in nuclear power, the Vietnamese company said in a statement on Tuesday.

Vietnam is taking "decisive steps" to build nuclear power projects, state-run Petrovietnam General Director Le Manh Cuong said. The company is an investor in the Ninh Thuan 2 nuclear project whose construction site is now being prepared.

Kepco CEO Kim Dong-cheol and his delegation expressed an interest in collaborating with Petrovietnam on devising an implementation plan for the project. To that end, they shared their experiences in working on the UAE's Barakah Nuclear Power Plant as an example of prior collaboration.

The leaders of both companies concluded by agreeing to further exchanges which would deal with technology, investment and finance.

The closure of the Strait of Hormuz since the start of the US-Iran war in late February has put a spotlight on the vulnerabilities in the energy systems of Southeast Asian countries like Vietnam who have traditionally relied heavily on Middle Eastern gas.

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