11:34 | 06/04/2016 Companies
PetroVietnam Gas Joint Stock Corporation (PV Gas) held a ceremony held in Ho Chi Minh City on April 3 to receive the Hero of Labour title in the presence of Deputy Prime Minister Nguyen Xuan Phuc.
Deputy PM Nguyen Xuan Phuc (fifth from left) congratulates PV Gas leaders, officials and workers on the honour (Credit: sggp.org.vn)
Speaking at the event, Deputy PM Phuc hailed the title as recognition of the outstanding achievements made by generations of PV Gas employees over the past, under close instruction and effective support from the government, ministries, partners and shareholders, especially the Ministry of Industry and Trade and Vietnam Oil and Gas Group (PVN).
Throughout its 25 years of operations and development, PV Gas has gained significant outcomes, paving the way for the development of the gas industry in Vietnam and ensuring national energy and food security as well as facilitating national socio-economic development, he affirmed.
The deputy PM asked PV Gas to build a complete and synchronous system of procedures – from exploitation, collection, transportation, processing, imports & exports, storage to distribution of gas products; and gradually reduce the ratio of using gas for electricity and fuels.
The corporation was also requested to seek potential markets and construct port and warehouse infrastructure to be ready for increased imports of gas and gas products after 2020, as well as research measures to build a system of gas pipe connection regions, towards formation of a national gas pipeline system.
PV Gas currently provides gas to produce 30-35% of the country’s electricity output and 70% of fertilizer demand, while maintaining about 70% of the domestic liquefied petroleum gas (LPG) market share. PV Gas contributes an annual average of 10% of PVN’s revenues and over 2% of the country’s gross domestic product./.