PV GAS to deploy LNG supply for industrial production in Vietnam from March 15, 2024
On March 8, 2024, Petrovietnam Gas Joint Stock Corporation (PV GAS) held a press release in Hanoi to share its business results of 2023 as well as orientation and plans for 2024, and officially announce the deployment of LNG supply for industrial production from March 15, 2024.
PV GAS’ press release in Hanoi
In his welcoming speech, PV GAS’ Vice President Nguyen Cong Luan expressed huge gratitude and appreciation for the support of media agencies, emphasizing the importance of their timely dissemination of accurate information about the Corporation's business activities.
Immediately after that, representatives of PV GAS’ Planning and Business Development Divisions presented the Corporation’s 2024 business results, business orientation and plans for 2024, as well as the plan to deploy LNG supply for industrial production.
Mr. Nguyen Cong Luan as one of the press release’s hosts
In 2023, PV GAS exceeded its business production targets, and marked significant advancements in the LNG sector in Vietnam as the only entity (up to present) eligible to import and export LNG in Vietnam. In July 2023, PV GAS successfully received the first LNG vessel into Vietnam, and three months later, the Corporation inaugurated and put into operation the 1-MMTPA Thi Vai LNG Terminal.
PV GAS is now ready to supply LNG for industrial production according to the integrated LPG/CNG/LNG business model, offering customers diverse product choices and flexible supply sources with competitive prices.
LNG will be the main product in PV GAS' optimal energy solution for the market. The milestone in LNG supply - a low-emission fuel source for industrial production, marks an important step in PV GAS' journey towards green energy, demonstrating its role and responsibility in realizing the goal of net-zero emissions by 2050 as stated by the Prime Minister at COP26.
In the future, PV GAS will commence Phase 2 of Thi Vai LNG Terminal with a capacity increased to 3 MMTPA, implement Son My LNG Terminal project in Binh Thuan with a total capacity of 6 MMTPA, and deploy LNG Terminal investment projects in Northern and North-Central Vietnam. Additionally, PV GAS will establish agreements with LNG giants worldwide to ensure stable and competitive supply for the domestic market.
With its leading position in Vietnam’s gas industry, along with meticulous preparation and quality assurance from infrastructure to resources, PV GAS is confident and committed to continuously and stably supply LNG for industrial production, contributing to national energy security and the robust development of Vietnam’s economy.