PV GAS takes lead in Vietnam’s gas industry

09:00 | 23/10/2022 Industry Follow Ven.vn on

(VEN) - The PetroVietnam Gas Joint Stock Corporation (PV GAS) recently marked its 32nd anniversary, celebrating its achievements as a leader of Vietnam’s gas industry and its contribution to national energy security.

Conquering energy resources

The Gas Company (predecessor of PV GAS) was established on September 20, 1990 to collect, transport, store, manufacture, and trade in gas and gas products.

PV GAS takes lead in Vietnam’s gas industry

PV Gas is proud of its highly qualified, dynamic and creative PV Gas employees.

From its initial successful operation of the White Tiger (Bach Ho) gas system, which later expanded into the Cuu Long system, PV GAS has continuously operated large gas systems, including the Nam Con Son, the PM3-Ca Mau and the Ham Rong-Thai Binh gas systems. It has also invested in new projects such as the Block B - O Mon, Su Tu Trang, Sao Vang-Dai Nguyet, and Nam Con Son 2 - phase 2 gas projects.

The spirit of solidarity is instilled in the young generation of PV Gas

Over the past 32 years, PV GAS has supplied nearly 165 billion cu.m of dry gas, over 21 million tonnes of liquefied petroleum gas (LPG), over two million tonnes of condensate, generating total revenue of over VND1 quadrillion, profit before tax of more than VND193 trillion, and contribution to the state budget of nearly VND95 trillion.

Sports festival to celebrate 32^nd anniversary of PV Gas

Each year, PV GAS provides raw materials and fuel to produce nearly 15 percent of electricity output, about 70 percent of the country's nitrogen demand and fuel for industrial parks. It accounts for 100 percent of the dry gas market share, about 70 percent of the domestic LPG wholesale market share and nearly 11 percent of the retail market share, making it the largest dry gas transporter and supplier, and also the biggest LPG producer and trader in Vietnam.

Overcoming challenges, welcoming success

This year, the global energy market and financial policies have become more volatile due to the Russia-Ukraine war, resulting in disruptions and shortages in supply chains, escalating prices, high inflation, and signs of recession in major economies.

In that context, PV GAS combined synchronous solutions to take advantage of opportunities and ease difficulties. As a result, in the first eight months of 2022, PV GAS earned total revenue of over VND69 trillion, or 130 percent of the plan, contributing over VND5 trillion to the state budget - 197 percent of the plan.

PV GAS was honored by Forbes as one of the 50 Best Listed Companies in Vietnam in 2022, an important milestone reflecting the corporation’s stable development over the past decade.

According to the Ho Chi Minh City Stock Exchange, PV Gas was one of the five businesses with market capitalization of over US$10 billion in November 2021.

Kim Ngan

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PV GAS takes lead in Vietnam’s gas industry

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