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PVN/PV GAS successfully organizes a gas market development conference

Vietnam Oil and Gas Group and Petrovietnam Gas Joint Stock Corporation (PV Gas) on August 5 successfully coordinated to organize the Gas Market Development Conference.

Attending and instructing the Conference, Vietnam Oil and Gas Group’s representatives included: Mr. Le Manh Hung - Member of the Board of Directors, CEO of the Group; Mr. Pham Xuan Canh - Member of the Board of Directors at the Group; Mr. Nguyen Hung Dung - Member of the Board of Directors at the Group; Mr. Le Xuan Huyen - Deputy General Director of the Group; and leaders of the Group's professional departments.


PV GAS representatives were comrades who are members of the Board of Directors, including: Mr. Duong Manh Son - Chairman of the Board of Directors, Mr. Do Dong Nguyen - Member of the Board of Directors, Mr. Truong Hong Son - Member of the Board of Directors, CEO: Mr. Hoang Van Quang, Deputy General Directors: Mr. Pham Van Phong, Mr. Nguyen Thanh Binh; and others of leaders from its professional committees and affiliated units and members of PV GAS.

The Gas Market Development Conference was held to evaluate the development of the gas consumption market in last time, to set up orientations for the development of the gas consumption market in the upcoming years, especially the solutions and strategies to increase gas consumption rate for industrial customers and gas consumption/use rate for petroleum/fuel-using customers. The conference was held amid recent changes in energy policy as well as complicated geopolitical evolution in the world and in the region, which have led to a significant impact on Vietnam's gas market.

According to the presentations at the Conference, the energy transition trend in Vietnam is affecting severely the gas consumption market, it is necessary to develop further other non-power customers to ensure the sustainable development trend of PV GAS as well as the gas industry of the Group. The report on gas business model as well as gas market development strategy presented by PV GAS fundamentally provided solutions and mechanisms for market development, strategic orientations of the Group/PV GAS in building business models and market strategies in the new situation. On that basis, the papers proposed mechanisms for the Group/PV GAS to be more proactive in negotiating and allocating new gas sources with suitable gas prices to supply non-power customers, and at the same time studying and developing mechanisms as well as policies, especially the ones on gas prices, to develop industrial and petrochemical customers.

On the basis of the reports and opinions of the Conference’s delegates, Mr. Le Manh Hung - CEO of the Group concluded, recognized and highly appreciated the efforts and achievements of PV GAS/the PV GAS business units in gas market development in recent years. Facing such great challenges as mentioned above and "continuing to be the leader who leads Vietnam's gas industry to develop rapidly, and contribute to ensuring national energy security and international integration, PV GAS must focus on building and carrying out synchronously solutions/groups of solutions towards the goal of increasing market share of non-power customers sustainably while ensuring efficiency in business, making efforts in increasing the current proportion 20% of total gas consumption to 50% by 2030.

Whereas the Group’s CEO instructed the professional departments, in close coordination with PV GAS, to identify the context of the gas products trading market which has been changed compared to past time, to need to adjust relevant decisions more timely and flexibly than rapid changes of the market, supporting PV GAS to develop a gas business strategy to 2030, with a vision toward 2035.

«May 2024»


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Phone: +84.28. 3781 6777 Fax: +84.28. 3781 5666 Email: pvgas@pvgas.com.vn

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