Petrovietnam Gas Corporation (PV GAS) successfully received the 4th LNG shipment at Thi Vai LNG Terminal, Ba Ria - Vung Tau province. This cargo is expected to help ensure gas supply for electricity generation in Vietnam, meeting increasing demand due to the intense heat of the peak summer season. 

On April 30, 2024,  Dr. Pham Van Phong, President & CEO of PV GAS, leading a delegation, had a meeting and shared encouragement with the workers directly involved in gas projects during the holidays of Vietnam’s Reunification Day on April 30th and International Labor Day on May 1st, 2024.

With relentless efforts to perfect LNG infrastructure, PV GAS is now confident in its competence to timely and stably import and distribute LNG for power generation and economic development.

On April 12, 2024, Dr. Pham Van Phong, PV GAS’ President & CEO, hosted a meeting with PV GAS Vung Tau Processing Company (PV GAS VUNG TAU) regarding its business performance in the first quarter, the plan for the last 9 months of 2024, as well as future directions.

At 8:00 on April 11, 2024, the Al Jassasiya vessel carrying nearly 70,000 tons of LNG from Ras Laffan port (Qatar) docked at PV GAS Vung Tau Terminal. This was the 2nd LNG shipment of PV GAS and the first time LNG was used to serve electricity generation in Vietnam.

In accordance with Directive No. 05/CT-TTg dated February 14, 2024, of the Prime Minister on ensuring electricity supply, and a sufficient amount of coal and gas for power generation, and to support EVN during the peak dry season of 2024, on March 29, 2024, PV GAS signed a contract to sell nearly 70 thousand tons of LNG to EVN. The LNG volume will be supplied to Phu My 3 Thermal Power Plant in the period of April-May 2024, making up for approximately 500 million kWh to the power system. The urgency of supplementing imported LNG for power generation clearly demonstrates the role and commitment of PV GAS in ensuring national energy security.

LNG, with its superior advantages in terms of energy efficiency, ease of long-distance transportation, abundant supply and less impacts on the environment, is the key product in PV GAS' Optimal Energy Solution for the market. Through this Letter, PV GAS officially announces the launch of LNG business by tank truck from March 15, 2024, following the integrated LPG/CNG/LNG business model, bringing customers a variety of product choices and flexible supply sources with competitive quality and prices.

On March 29, 2024, Petrovietnam Gas (PV GAS) organized a meeting with the Vietnam Petroleum Association (VPA) to discuss the cooperation between the two parties as per the agreement signed in October 2023.

On March 11, 2024, Petrovietnam Gas Corporation (PV GAS) signed the Confirmation Notice with QatarEnergy LNG to buy the first LNG cargo for 2024. Approximately 3.2 million mmBTU (~ 63,000 tons) of LNG will be delivered to Thi Vai LNG Terminal, expectedly on April 12-13, 2024, to serve industrials’ demand, contributing to Vietnam’s energy security when the country enters the dry season.

On March 19, 2024, CNG Viet Nam JSC (PV GAS CNG) - a member unit of Petrovietnam Gas Corporation (PV GAS), officially introduced LNG to customers in Thuan Dao Industrial Park - Long An, marking the debut of PV GAS/PV GAS CNG's optimal energy solution package with an integrated CNG/LNG/LPG business model, offering customers a diverse range of products, flexible and stable supply sources at competitive prices.

In 2024’s Q1, PV GAS TRADING continued to experience high growth in business, with LPG sales volume and revenue increasing by 67% and 57% respectively y-o-y.