Petrovietnam’s Chairman of BOM/President & CEO in talks with PV GAS
On February 16th 2024, Petrovietnam’s delegation, led by Mr. Le Manh Hung, Chairman of the Board of Members (BOM), President & CEO conducted a meeting with PV GAS to discuss the Corporation’s 2024 plan and strategic/mid/long-term development.
Mr. Le Manh Hung, Chairman of the Board of Members (BOM), President & CEO
On behalf of PV GAS, Mr. Nguyen Thanh Binh - Chairman of the Board of Directors (BOD) and Dr. Pham Van Phong – President & CEO presented the Corporation’s targets and plans for 2024, emphasizing key tasks in production and business operations and completing the targets assigned by the Group.
Mr. Nguyen Thanh Binh - Chairman of PV GAS’ BOD (right)
PV GAS would be intensifying its collaboration with relevant authorities to address bottlenecks in policy mechanisms, especially those related to infrastructure investment and LNG consumption, as well as policies regarding pipeline tariffs. Regarding investment in construction projects, PV GAS would be committed to tackling challenging yet essential tasks: continuing to increase the capacity of Thi Vai LNG Terminal to 3 MMTPA; coordinating to select locations and investment strategies for LNG Terminals in the North/Central North and refrigerated LPG Terminal in the North; and for Son My LNG Terminal project, striving to obtain feasibility study approval and ensuring appropriate progress for power plant deployment. Lastly, restructuring and internal management efforts continue with the establishment of branches/subsidiaries abroad, restructuring of business units, and other administrative tasks were also being emphasized.
Dr. Pham Van Phong – PV GAS’ President & CEO
In terms of investment, PV GAS would focus on the completion of strategic projects such as: LNG Hubs in Son My, Northern Vietnam and the Central Coast, refrigerated LPG Terminals in the North, ethane separation project in Dinh Co; gas pipeline from Block B to O Mon; gas pipeline from White Lion oilfield; etc.
In addition to strengthening activities in the mid-term strategy, PV GAS also aimed to develop new sectors suitable for post-2030 trends such as: LNG, Hydro, etc.
Mr. Le Manh Hung highly appreciated the achievements that PV GAS had attained in 2023. Most notably, the continuous revenue growth, ensuring a high profit-to-equity ratio, maintaining stable business and production operations, expanding into new markets, ensuring the best benefits for employees, and making a significant contribution to the overall success of the Group were acknowledged.
PV GAS’ meeting with Mr. Le Manh Hung
With the desire for PV GAS to continue striving for higher goals, in line with the expectation of being the flagship of the Group, Mr. Le Manh Hung emphasized the important tasks PV GAS needed to focus on implementing according to the consistent guidance of the Group's leaders. The Chairman of the BOM, President & CEO of Petrovietnam also agreed that based on the Nation Power Plan VIII and the directives of the Prime Minister, Petrovietnam would together with PV GAS strive to accomplish the strategic goals assigned by the Party and the State.
Concluding the meeting, Mr. Le Manh Hung directed relevant divisions of the Group to expedite the resolution of issues and procedures to support the implementation of PV GAS’ business and production tasks. At the same time, the leader of Petrovietnam believed that with the very high determination of the Corporation’s leaders and employees, PV GAS would mark another successful year.