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PV GAS contributes to Petrovietnam’s sustainable development

On January 8, 2024, Vietnam Oil and Gas Group (Petrovietnam) organized the annual review conference for the year 2023 and outlined the tasks for 2024. The event also included an award ceremony honoring 41 collectives for their contributions to the Group's success in 2023. Among them, Petrovietnam Gas Corporation (PV GAS) was honored for exceeding the revenue management plan for 2023.


PV GAS’ leaders at the event


PV GAS, as one of Vietnam's leading economic entities and a key player in the country's gas industry under Petrovietnam, has significantly contributed to the socio-economic development of the nation. In 2023, PV GAS successfully completed its production and business tasks.


PV GAS was honored for exceeding the revenue management plan for 2023.


In terms of production, in 2023, PV GAS received approximately 7.5 billion cubic meters of gas, and produced and supplied over 7.1 billion cubic meters of dry gas, including re-gas LNG as well as 84 thousand tons of condensate. Particularly noteworthy is the achievement of nearly 2.5 million tons of LPG (the highest in PV GAS' 33-year history), exceeding the plan by 39%, (20% increase year-over-year). The export and international business of LPG reached nearly 1 million tons, contributing nearly VND 12,000B to the Corporation's revenue from foreign markets. Financially, PV GAS also surpassed the planned targets ahead of schedule by 2-6 months. With these results, PV GAS contributed over 10% of the revenue and nearly 25% of the profit to Petrovietnam, ranking among the top three companies with a market capitalization of over USD 7B.

Exemplary Unit in Setting New Records Award


PV GAS actively implemented key projects, contributing to ensuring national energy security. Moreover, the Corporation proactively adjusted its business model to be more flexible in intensified international cooperation and business activities, aligning with the trends and development direction of green energy in Vietnam.

In light of that, PV GAS has significantly contributed to the sustainable development and growth of Petrovietnam. PV GAS was also particularly honored in two other categories: Exemplary Unit in Setting New Records and Exemplary Unit in New Growth Motivation.

Exemplary Unit in New Growth Motivation Award


To leverage these achievements, PV GAS will continue to focus on implementing production and business tasks, ensuring national energy security, carrying out key projects, enhancing operational efficiency, and strengthen its corporate culture. These efforts aim to further contribute to the sustainable development of the Group.

«April 2024»


Address: Floor 12-15, PV GAS TOWER, No. 673 Nguyen Huu Tho Street, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City.
Phone: +84.28. 3781 6777 Fax: +84.28. 3781 5666 Email: pvgas@pvgas.com.vn

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