PV Gas discussions on 2020 plan, development strategy to 2025, and vision until 2030

15:58 | 31/10/2019 Energy

(VEN) - On October 10, 2019, in Hai Phong, the Vietnam Oil and Gas Group held a seminar on development strategy to 2025, vision until 2035 and 2020 plan of the PetroVietnam Gas Joint Stock Corporation (PV GAS).

The seminar is part of a long-term and large-scale scientific research program, based on research and practical basis in order to develop the PV Gas into a strong, efficient enterprise with high competitiveness concerning every stages from collection - import - export - transport - processing/deep processing - storage - trading and services of gas and gas products, participating in upstream investment activities; playing a leading role in the gas industry nationwide, striving to become the leading gas enterprise in the ASEAN region and will be listed in the strong gas enterprises of Asia.

pv gas discussions on 2020 plan development strategy to 2025 and vision until 2030
Mr. Duong Manh Son - General Director of PV GAS presents a report on the development strategy to 2025, with vision until 2035 of PV GAS

Opening the seminar, Mr. Duong Manh Son - General Director of PV GAS presented a report on the development strategy to 2025, with vision until 2035 of PV GAS. The development viewpoints proposed by PV GAS are: Developing PV GAS synchronously, safely, effectively, sustainably, with high competitiveness, in accordance with the development strategy of the oil and gas industry and the Vietnam Oil and Gas Group; complete development in all stages of the gas chain; Focusing on: processing, diversifying gas sources and gas products, manufacturing - importing - trading gas products and services; promoting internal strength, taking advantage of external resources, strengthening international cooperation; developing the prestigious, quality and popular PV GAS brand; continue to be a strong, efficient and highly competitive gas enterprise; complete all stages of collection - transportation - processing - import - export - storage - service - trading of gas products; participating in upstream investment in gas projects at home and abroad; playing a leading role in Vietnam's gas industry; actively participating in the international gas market.

The strategy has specific goals of diversifying gas supplies, playing a leading role in collecting gas nationwide with an output of 185.5 billion cu.m; increasing domestic gas collection according to the exploitation capacity; Participating in upstream investment domestically and internationally: after 2030 gas/LNG exploitation and production at 5-10 billion cu.m per year.

pv gas discussions on 2020 plan development strategy to 2025 and vision until 2030
Mr. Nguyen Sinh Khang - Chairman of the Board of Directors of PV Gas speaks at the seminar

Regarding gas/LNG transportation and distribution, PV GAS targets to build a safe gas operation and trading network and optimize gas systems nationwide and connecting with the region. The structure of gas/LNG consumption is as follows: 80% for electricity generation; 10% is for Nitrogenous fertilizer/chemical production; and 10% for industry, civil works and transportation.

In the near future, PV GAS presents the Business Plan 2020 with the goals of safe, efficient operations and ensuring safety and security for gas projects; ensuring efficiency in production and business; providing maximum supply of gas and gas products to customers; controlling and ensuring quality and progress of investment projects; completing payments for finished projects according to regulations; working on gas prices, charges for existing gas resources as well as new gas fields, effective signing/management/exploitation of gas trading contracts; preparing LNG consumption market; seeking opportunities, expanding markets and increasing market share of LPG consumption, especially in the Northern and Central regions; promoting LPG retail segment; searching and developing new gas sources at home and abroad; participating in upstream investment (if possible); flexible and efficient management and use of financial capital; enhancing savings, reducing costs, lowering product costs, recovering debts; keeping restructuring work in terms of workforce arrangement; well performing social security works; promoting images, brands, products; reviewing, amending/supplementing and completing the internal management documents in accordance with laws, and regulations and real operational practices of PVN and PV GAS; improving the quality and efficiency of the internal control system; strengthening inspections, supervisions and evaluation of PV GAS performances and other enterprises that PV GAS has capital contributions.

Leaders and delegates spent much time to discuss and present ideas, suggestions for PV GAS’ strategy plan. They unanimously appreciate the efforts of PV GAS in recent years, which devoted a lot of enthusiasm to building a thorough, scientific and practical strategy, for the development of the Group and the gas industry. The delegates also agreed to propose early approval of the strategy and put it into practice, harmonizing the strategy with the General development strategy of the Group; effectively integrating the strategy and the programs on development of gas energy for daily life and transportation; environmental protection, development of advanced technologies and the Industrial Revolution 4.0.

Concluding the seminar, on behalf of the Board of Directors of PetroVietnam, General Director Le Manh Hung supported the leading role in the gas industry of PV GAS. He said the Group would create all conditions for PV GAS to complete its set tasks, but still enables its flexibility and proactiveness with the capability and large scale of a top enterprise in the Vietnam gas industry. He also asked PV GAS to review all issues mentioned at the seminar, actively and proactively realize the strategy as soon as it is approved in order to promote sustainable development and accompany with the PVN for the cause of the socioeconomic development of the country.