Enterprising PV GAS to seize new opportunities

Solid foundation

Over the past 34 years, generations of leaders and employees of PV GAS have made continuous efforts to overcome countless difficulties and challenges to complete the tasks assigned by the Party, the State and the Vietnam Oil and Gas Group (Petrovietnam), gradually become a leader of Vietnamese gas industry and one of the three pillars of Petrovietnam.

The “Green Energy Journey” of PV GAS

Since the first gas flow was brought ashore in April 1995, the gas industry has provided over 176 billion m3 of dry gas, 27 million tonnes of LPG, and 2.2 million tonnes of light gasoline to the domestic market. With the mission to ensure national energy and food security, the gas industry is providing a stable source of raw materials and fuel to produce nearly 10 percent of Vietnam electricity output, 70 percent of the country’s nitrogen fertilizer demand.

In 2023, PV GAS achieved an impressive total revenue of about VND116 trillion, consolidated revenue of over VND92 trillion), contributing over 10 percent of Petrovietnam’s revenue and over 25 percent of the Group’s total profit; among one of Petrovietnam’s three enterprises with revenue of over VND100 trillion and in the top three units with high capitalization value on the stock market (over US$7 billion).

New motivation

With its leading role in the Vietnamese gas industry, PV GAS will continue to make continuous efforts on the “Green Energy Journey,” promote investment and trading in LNG, as a new driver for the present and the future growth.

After the operation of the first LNG terminal in Vietnam - LNG 1 MMTPA Thi Vai terminal in 2023, in 2024, PV GAS started to receive LNG shipments to PV GAS Vung Tau Terminal, contributing to ensuring supply for electricity production, especially during the peak dry season this year.

The integrated business model of PV Gas is on track to the national energy development goal

Notably, recently, PV GAS successfully transported the first LNG shipment from the South to the North by rail, marking the completion of the PV GAS gas energy supply chain, including a diverse set of gas products (pipeline gas, LPG, LNG, CNG...).

PV GAS has also actively invested in gas infrastructure, striving to increase the capacity of Thi Vai LNG terminal from one million tonne in July 2023 to three million tonnes per year in 2026 to serve the entire Southeast region. In addition, PV GAS is carrying out the Son My LNG project in Binh Thuan Province to serve power plants in the South Central region and planning investments in two other LNG terminals in the North Central region. Thus, all the four LNG terminals with estimated capacity of 15 million tonnes per year are expected to meet the needs of LNG power plants according to the Power Plan VIII.

The first steps that have been realized and the ongoing efforts show the determination to think and to act of the leaders and the entire staff of PV GAS in realizing their strategic goals.