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PV Gas - Steady Advance and Speed-up

2011 is the year of so much significance to PETROVIETNAM GAS CORPORATION (PV Gas). Simultaneously, in line with the assurance of completing Business Plan, this is the first year the Corporation transferred to run under a Joint Stock Company model, and also the first year of implementing five year plan for 2011-2015, Speed-up Strategy for development of PVN to 2015 and orientations to 2025, conducting the Master plan on Vietnamese Gas industry development for 2015 period and orientations to 2025.

Promoting the strength of the whole political system, with high determination and focusing on direction and execution of collective leadership as well as the efforts and unity of all the staff, PV Gas has completed in excess of most of the targets. Especially, the LPG production targets, revenue, profits and the state budget paying in 2011 were completed before the deadline for three months. All lead PV Gas become the Powerful brand for the Gas industry of Vietnam and the region, with the rapid growth of infrastructure, huge sales, high profit rates in comparison with the leading units of PVN, significantly contributing to the state budget, together with the PVN helping to stabilize macro economy of the country.

Most of the business operation targets have been completed and be in excess of the plan, in which some targets reach the finish before the deadline for two to three months:
+ Dry gas reached 8,394 million m3 (in which CNG: 113 million m3 and low pressurized gas (Natural gas): 525 million m3) equal to 105% of the plan;
+ Condensate reached 56,790 tons, equal to 103% of the plan;
+ LPG reached 1,110,000 tons, equal to 163% of the plan, up 40% compared to 2010 (if counting, namely PV Gas North and PV Gas South, the production of LPG supplied to the market in 2011 reached 1,310,388 tons).
- Turnover reached 58,614 billion VND (the holding company reached 56,723 billion VND, equal to 133% of the plan), equal to 132% of the plan, up 22% compared to 2010;
-The state budget paying reached 3,780 billion VND (the holding company reached 3,700 billion VND, equal to 169% of the plan), equal to 166% of the plan, up 22% compared to 2010;
- Profit before tax reached VND 7,140 billion VND (the holding company reached 6,800 billion VND, equal to 171% of plan), equal to 165% of the plan, up 18% compared to 2010;
- Profit after tax reached 6,040 billion VND (the holding company reached 5,780 billion VND, equal to 174% of the plan), equal to 171% of the plan, up 13% compared to 2010;

Production and sales of liquefied products continue in high growth, in which the LPG production increased 40% compared to 2010 and took over 70% of the market share nationwide on LPG trading. Maintenance and repair were completed with a large volume of work, quality was assured and downtime of gas supply was shortened.
The gas facility system operation was safe, stable, continuous, guaranteed to supply consumers with gas in the maximum extent as possible, contributing to the national energy and food security; meeting the demand on fuel and feedstock for producing over 40% of electricity production nationwide, 30% of fertilizer demand nationally and 70% market share nationwide on LPG.

OUTSTANDING EVENTS OF PV GAS IN 2011
1. The first shareholder meeting was held successfully and PV Gas changed to operate according to the model of joint-stock company since 5/2011;
2. The headquarters of the Corporation (PV Gas Tower) was inaugurated in Ho Chi Minh City;
3. The project of Te Giac Trang – Bach Ho gas pipeline was completed and put into operation to supplement Cuu Long gas source for the South-eastern region and the project of capacity upgrade of Thi Vai jetties also was completed and put into operation, serving LPG import-export activities as well as gas projects afterwards;
4. The first steel-pipe manufacturing plant for the oil and gas industry in Vietnam was completed and put into operation to guarantee to supply NCS2 project, Block B– O Mon and other ones with pipes timely;
5. Turnaround of the gas systems namely Nam Con Son, Cuu Long and PM3- Ca Mau was completed, and subsequently turned them back to operation safely before the deadline;
6. The Corporation finished the targets of LPG production, turnover, profits and paying into the National budget before the deadline for 3 months.

EXPECTED OUTSTANDING EVENTS OF PVGAS IN 2012
1. To post the shares of the Corporation and PVID into stock trading floor;
2. To begin to build Nam Con Son 2 project to supplement the source of supply of 7 billion m3 of gas per year for the South-eastern market;
3. To begin to build GPP Ca Mau with the capacity of 22 million m3 of gas per day  for the purpose of contribution to increase the value of the gas projects Ca Mau, Block B-O Mon;
4. To complete the system of Phu My-Nhon Trach low-pressurized gas for supplying industrial consumers at the rate of 2 million m3 of gas per day to replace traditional fuels and feedstock,  helping to protect the environment;
5. To finish building and apply the Enterprise culture of PV Gas;
6. To complete and put the refrigerated LPG storage project into operation, meeting needs of LPG trade of PV Gas.                

              

            

© Copyright PETROVIETNAM GAS JOINT STOCK CORPORATION (PV GAS)
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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