• Petrovietnam Gas Joint Stock Corporation (PV GAS) today is the leading and key unit of the Vietnam Oil and Gas Group (PVN) to evolve the gas industry as the part of the PVN’s Development Strategy; to fully operate in all stages of the gas and gas product value chain, including collection, transportation, processing, storage, distribution, and trade of gas and gas products.
• Established in September in 1990 as the original name of Gas Company, PV GAS has gradually established, opened and is currently managing a relatively comprehensive infrastructure system of Vietnam's gas industry (including 5 gas systems: Cuu Long, Nam Con Son 1, Nam Con Son 2, PM3 - Ca Mau and Ham Rong - Thai Binh with a total length of more than 1,500 km of gas pipelines, 3 gas processing plants with a total capacity of over 10 billion m3/year, 14 LPG storage warehouses with a capacity of nearly 150,000 tons, the nationwide gas/gas products distribution system, etc.,) with the total assets worth more than VND 70 trillion.
• Over 31 years of establishment and development, PV GAS has become the powerful Corporation with 19 affiliated units/members and nearly 3,000 highly qualified, experienced, dynamic and creative employees. PV GAS currently each year provides raw materials and fuel to generate nearly 15 per cent of the country’s energy output, to meet 70 per cent of the country's nitrogen demand and the total fuel for many industrial parks; dominating the whole domestic dry gas market, and carving out a niche in the wholesale and LPG retail market shares with around 70 per cent and nearly 12 per cent respectively.
• In last 31 years, PV GAS provided nearly 160 billion m3 of dry gas, more than 20 million tons of LPG, more than 2 million tons of condensate, bringing in the total revenue of nearly VND940 trillion, the profit before tax of more than VND180 trillion, and the contribution to the State’s budget of nearly VND90 trillion.
• With the great achievements, PV GAS deserves to become as the largest dry gas transporter and supplier in Vietnam, as well as the No. 1 LPG producer and trader in Vietnam; successfully completes the tasks assigned by the Party and State; contributes to ensuring national energy and food security; ensures a stable supply for the LPG market; and honorably receives many Medals, Emulation Flags, Certificates of Merit, certificates... from the State, Ministries and relevant agencies, Vietnam Oil and Gas Group and prestigious organizations in the region, especially in 2015 honorably received the noble title of Labour Hero awarded by the State.

Goal orientations 

1. Developmental perspective

• Construction and development of Petrovietnam Gas Joint Stock Corporation (PV GAS) is the key unit of the Vietnam Oil and Gas Group, operating in line with the Development Strategies of the Vietnam’s gas industry as well as the oil and gas industry, the Vietnam Oil and Gas Group to ensure synchronization, efficiency, sustainability, and high competitiveness in the country and the world.
• Deploying all the Corporation’s internal resources, combining with promoting international cooperation and integration, attracting partners of all local economic sectors and foreign investors to develop the gas industry in Vietnam, contributing to ensuring national energy security.
• Joining the construction and development of all stages in the domestic gas/LNG/gas product value chain; gradually going global to ensure the Corporation’s sustainable development.
• Maintaining position as the leading enterprise in investing and importing gas and LNG for electricity generation and other consumers. Joining the investment in gas/LNG power plants on the basis of promoting the potential and strengths of the gas-electricity value chain, ensuring enhanced competitiveness of the finished products which is the electricity.
• Focusing on processing/ deep processing, diversifying gas products to increase the values and output of gas and gas products. Researching and developing renewable energy sources, energy transition, and industrial gas.
• Developing PV GAS on the principle of constantly improving the efficiency of corporate governance, applying digital technology, ensuring publicity, transparency and harmonizing the interests of its shareholders, the State and its employees.

 

2. Overall goal

Building and developing PV GAS as the key unit in the Gas Industry to keep the pivotal role, to lead the gas market in Vietnam, and to contribute to ensuring the national energy security.
Striving for:

• Average revenue growth to reach 7 - 9%/year.
• Domestic market shares: to dominate the whole domestic dry gas market; to carve out a niche in the LNG and LPG retail market shares with more than 50% and 70% respectively.
• Profit after tax/Charter capital to reach more than 20%/year.

 

3. Specific goals

3.1 Gas collection and transportation

• Diversifying supply sources, maintaining its position as the leading unit in collecting and receiving all domestic gas sources, and developing global markets. Building and developing the nationwide comprehensive gas industry infrastructure system in line with the plan of field development, import and consumption of gas and LNG, gradually setting up the national and regional gas pipeline system. Being willing to invest in the upstream stage in the country and other countries in the world (if being given the authority to allow) to have proactively source gas and raise PV GAS position.
• Striving for domestic gas production/collection to reach 7.6 - 9.5 billion m3 of gas/year. Being ready to collect/receive according to the exploitation capacity and needs of consumers.

3.2 The import of gas and LNG

• The focal point for investment and import of gas and LNG for consumers across the country to ensure energy security, effectively perform the role for the State’s management and regulation of the gas and LNG market.
• Prioritizing resources, quickly investing in infrastructure for LNG import and distribution to ensure a stable and long-term supply for existing customers, stimulating development of new customers in sectors and regions in line with the orientation of socio-economic development. Developing Thi Vai, Binh Thuan, and Northern areas into LNG hubs nationwide.
• Striving to import LNG from 2022, LNG import volume in the period of 2022 - 2025 will reach 0.1 - 1.5 million tons/year, equivalent to 0.1 - 2.0 billion m3/year of gas.

 3.3 Gas processing

• Performing gas processing/deep processing to diversify products, to increase the use value of gas and the efficiency of gas products in the economy.
• Researching and developing renewable energy sources, energy transition, industrial gases such as: Hydrogen, Nitrogen, Ethane, Ethylene, Naphta, Argon, Methanol, PE, PP, cogeneration products (hot, cold, … gas) ....
• Striving for the production output of 0.3 - 0.4 million tons of LPG/year; 60,000 tons of Condensate/year.

3.4 Trading gas and LNG 

• Safely and efficiently trading domestic gas, imported gas and LNG, meeting a stable and long-term supply for existing customers, increasing competitiveness in supplying gas and LNG to new consumers (power plants, chemical industry, industries, transportation, etc.)
• The supply of gas and LNG reaches 7.6 - 10.5 billion m3/year; being willing to increase production to meet customers’ demands.
• Continuing to focus on developing the gas and LNG market for customers in the power industry which accounts for more than 70% of its total one; expanding and developing the gas and LNG consumption market for customers in the fields of chemical industry, fertilizer, industries, civil demand, and transportation with nearly the remaining 30%.

3.5 Trading gas products

• Promoting safe and efficient development and business of low-pressure gas products, CNG, LNG, LPG, Condensate ... of PV GAS, from imported and off-taken LPG sources from PVN's factories.
• Researching and developing business, joining the consumption market of Petroleum, Hydrogen, Nitrogen, Ethane, Ethylene, Naphta, Argon, Methanol, PP, PE, cogeneration products (cold and hot gas, ... )….
• Importing, exporting and trading LPG globally, ensuring efficiency, balance and stability of domestic supply, contributing to the strong development of PV GAS brand in the international market.
• Striving to reach 150,000 – 160,000 tons in the LPG storage capacity by 2025.
• Dominating more than 70% of domestic LPG wholesale market shares, 12 - 20% of domestic civil LPG retail market shares.

3.6 Gas service activities 

• Developing specialized gas services (processing, operation, logistics, pipe production and pipe wrapping, gas service chain linkage, industrial park infrastructure…) with high competitiveness to meet development requirements of PV GAS, the gas industry in Vietnam and readiness in joining in overseas activities as there are  opportunities. 
• Targeting the market domination of gas transportation by pipeline nationwide and providing maximum services of pipe manufacturing and wrapping for projects in the industry. 
• Statistical index of production and business activities (website homepage): unchanged