PV GAS to Provide Nearly 70,000 LNG Units to EVN

In line with Prime Ministerial Directive No. 05/CT-TTg issued on February 14, 2024, focusing on guaranteeing electricity provision and adequate coal and gas supply for power generation, PV GAS, on March 29, 2024, finalized a contract with EVN to supply nearly 70,000 tons of LNG. This LNG allocation will be directed to the Phu My 3 Thermal Power Plant between April and May 2024, contributing approximately 500 million kWh to the power grid during this critical dry season period. The swift action to augment imported LNG for power generation underscores PV GAS's pivotal role and steadfast commitment to safeguarding national energy security.

PV GAS, primarily owned by Vietnam Oil and Gas Group (Petrovietnam), holding nearly 95.76% of its shares, is the forefront organization mandated by Vietnam’s Party and State to spearhead the nation's gas sector. This directive is in accordance with Decision No. 2233/QD-TTg, issued by the Prime Minister on December 28, 2020, aiming to foster a competitive energy market. PV GAS stands as the sole enterprise to date qualified for both LNG import and export, while concurrently possessing a comprehensive LNG infrastructure system in Vietnam, which has been operational since July 2023.

PV GAS' initiative to introduce LNG for electricity generation in Vietnam comes at a time when the country is facing a decline in its conventional fuel sources. This move underscores the corporation's dedication to bolstering the nation's energy security, in line with the directives outlined in Directive No. 05/CT-TTg issued by the Prime Minister on February 14, 2024. The Al Jassasiya vessel is set to deliver nearly 70 thousand tons of LNG from Ras Laffan, Qatar, to the PV GAS Vung Tau Terminal on April 11, 2024. Once again, PV GAS demonstrates its commitment to advancing green energy initiatives, embodying the spirit of "Fuelling Values to Life" in its sustainable energy endeavors.

Backed by the Ministries, State Agencies, and Petrovietnam, PV GAS is committed to actively assisting and collaborating with authorities in addressing policy challenges concerning mechanisms and infrastructure in the adoption of LNG products in Vietnam. This endeavor aims to foster the development of a transparent and sustainable LNG trading market in the country.

PetroVietnam Gas Joint Stock Corporation (PV GAS) stands as a prominent entity within the Vietnam Oil and Gas Group (PVN), spearheading the nation's gas industry. PV GAS was founded on September 20, 1990, originating from the Vung Tau Petroleum Project Management Board under the name Gas Company. Its primary function and duty encompassed the collection, import, transportation, storage, processing, distribution, and trading of gas and gas-related products.