Formation and development
- PV GAS founding date (originally the Gas Company)
- 20/09/1990
- First gas from the Bach Ho field brought ashore
- 26/04/1995
- Vietnam’s core nationwide gas pipeline and processing network
- 05 Systems
- Current charter capital, with nearly 3,000 employees
- VND 19,139 billion
The idea of a gas industry took shape in the early 1990s, when the associated gas from the Bach Ho field would otherwise have had to be flared offshore if it was not brought ashore for use. On 20/09/1990, PV GAS was therefore established on the basis of the Vung Tau Petroleum Project Management Board, originally under the name Gas Company, with the main functions of gathering, importing, transporting, storing, processing, distributing and trading gas and gas products.
Core functions
- Gathering
- Import
- Transportation
- Storage
- Processing
- Distribution & Trading
Five core gas systems
Gas System No. 1 – Cuu Long Gas System
| First gas | 26/04/1995 (Bach Ho field) |
| Gas pipeline | 107 km from the Cuu Long basin to shore |
| Design capacity | 2 billion m³ of gas per year |
| Dinh Co plant | 350,000 tonnes of LPG · 130,000 tonnes of condensate per year |
| Thi Vai terminal | > 71,000 tonnes of LPG · 46,000 m³ of condensate |
Immediately after its establishment, under the direction of the Government and the Vietnam National Oil and Gas Group, PV GAS began implementing the first gas system – the Bach Ho Gas System, later expanded into the Cuu Long Gas System. It comprises: the offshore gas compression platform; the pipeline system carrying gas from the oil and gas fields of the Cuu Long basin ashore and on to Phu My; the Dinh Co Gas Processing Plant; the liquid product storage and export terminal at Thi Vai; and the gas distribution stations. To bring gas ashore quickly to meet demand, the system was built in phases.
In early Q2/1995, the early gas-to-shore phase was completed; the first gas was brought ashore on 26/04/1995 from the Bach Ho field to supply the Ba Ria Power Plant at 1 million m³/day, helping the State budget save a very large amount of foreign currency previously spent on imported diesel to fuel the power plant.
Subsequently, with the completion of the small and large offshore compression platforms and the onshore gas pipeline system, the gas-to-shore capacity was raised step by step to 2 million m³/day in early 1997, 3 million m³/day in late 1997 and over 5 million m³/day in 2002, to carry additional gas from other fields in the Cuu Long basin: Rang Dong (2002), Ca Ngu Vang, Phuong Dong (2008), Su Tu Vang, Su Tu Den (2009), Vom Bac, Rong, Doi Moi (2010), Te Giac Trang (2011), Hai Su Den, Hai Su Trang (2013), Dai Hung (2015), Thien Ung (2016)… to power plants, fertiliser plants and other industrial customers in Ba Ria - Vung Tau, Dong Nai and Ho Chi Minh City.
The completion and commissioning of the Dinh Co Gas Processing Plant and the PV GAS liquid product storage and export terminal in late 1998 was an event of great technical, economic and social significance. For the first time, LPG and condensate were produced in Vietnam. From May 1999, PV GAS met most of the domestic LPG demand with good quality and competitive prices, replacing a product that Vietnam had long had to import.
To date, the Cuu Long Gas System has continued to develop, with the offshore gas compression platform; the 107 km gas pipeline from the Cuu Long basin to shore (design capacity: 2 billion m³ of gas per year) to consumers in Ba Ria - Vung Tau, Dong Nai and Ho Chi Minh City; the Phu My Gas Distribution Center; the Dinh Co Gas Processing Plant (design capacity: 2 billion m³ of gas, 350 thousand tonnes of LPG and 130 thousand tonnes of condensate per year); and the liquid product storage and export terminal at Thi Vai (design storage capacity: over 71,000 tonnes of LPG and 46,000 m³ of condensate; two berths of 60,000 DWT and 2,000 DWT).
Gas System No. 2 – Nam Con Son Gas System
| First gas | December 2002 (Lan Tay, Lan Do) |
| Pipeline length | Over 400 km from the Nam Con Son basin |
| Key components | Pipeline & Nam Con Son Gas Processing Plant |
Building on the great achievements of the Cuu Long Gas System, PV GAS went on to implement the second gas system – the Nam Con Son Gas System – with foreign partners that are major oil and gas groups in the world. It comprises a pipeline of over 400 km from the fields in the Nam Con Son basin and the Nam Con Son Gas Processing Plant. In December 2002, the Nam Con Son Gas System completed its important components, and the first gas from the Lan Tay and Lan Do fields was brought ashore to consumers. Subsequently, the Nam Con Son Gas System received additional gas from other fields in the Nam Con Son basin (Rong Doi and Rong Doi Tay in 2006, Chim Sao and Dua in 2011, Hai Thach and Moc Tinh in 2013).
Gas System No. 3 – PM3 - Ca Mau Gas System
| Gas supply operation | May 2007 (Malay – Tho Chu basin) |
| Pipeline length | 325 km offshore and onshore |
| Design capacity | Over 2 billion m³ of gas per year |
| Deep processing | Ca Mau Gas Processing Plant (end of 2017) |
To develop the gas consumption market in the South-West region, PV GAS invested in the PM3 – Ca Mau Gas System, with 325 km of offshore and onshore gas pipeline, a design capacity of over 2 billion m³ of gas per year, and the Ca Mau Gas Distribution Center, bringing gas from the PM3-CAA and 46 CN fields in the Malay – Tho Chu basin to the power and fertiliser plants in Ca Mau from May 2007. At the end of 2017, PV GAS put the Ca Mau Gas Processing Plant into operation to produce LPG and condensate, increasing the value of the PM3 gas. The PM3 - Ca Mau Gas System contributes to the economic development of Ca Mau province and the Mekong Delta.
Gas System No. 4 – Ham Rong – Thai Binh Gas System
| Operation date | 07/08/2015 (Song Hong basin) |
| Pipeline length | 25 km offshore and onshore |
| Design capacity | 500 million m³ of gas per year |
Owing to certain technical limitations in the composition of the gas in the Song Hong basin and in the consumption market, investment in gas infrastructure in the North came relatively later than in the South.
The Ham Rong – Thai Binh Gas System, with 25 km of offshore and onshore gas pipeline and a design capacity of 500 million m³ of gas per year, began operating on 7/8/2015, supplying gas to industrial consumers in Thai Binh and neighbouring provinces and paving the way for the development of the gas consumption market in the North in the following years.
Gas System No. 5 – Nam Con Son 2 Gas System
| Offshore pipeline | Up to 330 km |
| Dry gas pipeline | 29 km to the Phu My Gas Distribution Center |
| Connected fields | Su Tu Trang, Sao Vang – Dai Nguyet, Thien Ung - Dai Hung |
The Nam Con Son 2 project chain aims to develop Vietnam’s gas industry infrastructure in a coordinated manner in line with the master plan approved by the Prime Minister; to meet the need to gather, transport and process gas from the Su Tu Trang, Sao Vang – Dai Nguyet and Thien Ung – Dai Hung fields and to provide backup for the Bach Ho – Dinh Co pipeline; to add gas receiving and processing capacity and increase operational flexibility of the facilities; and to supplement the gas shortfall in the South-East region so as to ensure supply to existing consumers, serve economic development and safeguard energy security, while also laying the groundwork for developing fields in neighbouring areas in later phases.
The NCS2 pipeline system has an offshore pipeline of up to 330 km and 29 km of dry gas pipeline to the Phu My Gas Distribution Center to supply consumers.
Investment in LNG terminals & nationwide distribution system
Investment strategy for new projects & LNG import terminal chain
Beyond operating the Cuu Long, Nam Con Son, PM3 - Ca Mau, Ham Rong – Thai Binh and Nam Con Son 2 Gas Systems safely and efficiently, and in order to meet the growing domestic demand for gas and maintain the stable development of PV GAS’s gas market, PV GAS is actively investing in new projects such as a nationwide chain of LNG import terminals and the Su Tu Trang gas gathering and transportation pipeline, in line with its Development Strategy and related master plans. In particular, PV GAS is currently building and preparing to commission the 1 MMTPA LNG Terminal at Thi Vai, expected to enter operation from 2023. The imported gas is expected to supply the Nhon Trach 3 and 4 Power Plants and industrial customers in the area. In addition, to meet customer demand and make up for the increasingly declining domestic gas, the project “Expansion and capacity upgrade of the Thi Vai LNG terminal from 1 million tonnes/year to 3 million tonnes/year” has been studied and submitted to the competent authority for investment approval.
Gas product production, trading and distribution system
To increase the value of gas use, make effective use of the country’s natural resources and ensure the sustainable development of PV GAS, PV GAS has been and will continue to develop its gas product production, trading and distribution system nationwide, through direct investment by the parent company or through member units such as:
- m³ of gas/year · Low-pressure gas distribution
- ~1 billion
- m³/year · Compressed natural gas (CNG) distribution
- > 400 million
- tonnes of LPG/year · Liquefied petroleum gas (LPG) distribution
- > 2 million
- tonnes of pipe/year · Steel pipe production and pipe coating
- 200,000
Low-pressure gas distribution
Low-pressure gas distribution system: comprises the low-pressure gas distribution system in the South (supplying industrial parks in Ba Ria - Vung Tau, Dong Nai and Ho Chi Minh City) and the low-pressure gas distribution system in the North (supplying the Tien Hai – Thai Binh industrial park), managed by Vietnam Low Pressure Gas Distribution Joint Stock Company (PV Gas D) with a volume of about 1 billion m³ of gas per year. In addition, PV Gas D is studying the expansion of the low-pressure gas distribution system to the provinces of the South-West.
Compressed natural gas (CNG) distribution
The CNG distribution system for urban areas, industrial customers and transport vehicles in the South-East region and some localities in the North is managed by South Gas Trading Joint Stock Company (Gas South) and CNG Vietnam Joint Stock Company (CNG Vietnam), with a volume of over 400 million m³ per year. CNG is distributed by CNG Vietnam and Gas South to industrial customers that use gas as fuel for production but are located far from the low-pressure gas distribution pipeline system.
Liquefied petroleum gas (LPG) distribution
The LPG distribution system for LPG trading companies and for industrial, commercial and household customers, urban areas and transport vehicles is managed by PV Gas Trading (Gas Products Trading Company), PV GAS LPG (Vietnam LPG Trading Joint Stock Company) and Gas South, with a volume of over 2 million tonnes of LPG per year from domestically produced and imported LPG. To support this LPG business, PV GAS and its member/affiliated units have invested in LPG storage facilities nationwide with a total capacity of nearly 140 thousand tonnes, accounting for over 70% of the country’s storage capacity.
Steel pipe production and pipe coating
In addition to the production lines serving the processing and trading of gas and gas products described above, PV GAS also participates in pipe production and pipe coating: these products and services are provided by two companies, the Vietnam Petroleum Steel Pipe Joint Stock Company and the Vietnam Petroleum Pipe Coating Joint Stock Company, with a capacity of 200,000 tonnes of pipe per year, to produce and supply specialised pipes for projects in the gas industry and other industries.
The coordination between PV GAS and its member units has created combined strength for PV GAS across the entire chain of gathering, transporting, storing, processing and trading gas and gas products.
Technology mastery, safety standards & organisational structure
Operational safety & integrated management system
The gas industry is one with advanced technology and strict requirements for safety and fire and explosion prevention. Operating staff and workers must be highly skilled, experienced and observe industrial labour discipline. PV GAS has therefore paid special attention to drafting, disseminating and implementing safe operating and maintenance procedures, as well as to training to improve the technical, professional and operational skills of managers, engineers and operators. As a result, PV GAS’s workforce now handles all production and gas facility operations and no longer needs the support of foreign experts as before. In addition, because PV GAS applies an integrated safety, quality and environment management system under OHSAS 18001:2007, ISO 9001:2015 and ISO 14001:2015, throughout more than 30 years of production and operation PV GAS has had no serious incidents compromising safety, product quality has been assured, gas projects have delivered high economic efficiency, and PV GAS’s gas and gas products are widely used throughout the country.
| OHSAS 18001:2007 | Occupational health and safety management system |
| ISO 9001:2015 | International quality management system |
| ISO 14001:2015 | Sustainable environmental management system |
Business model transformation & organisational scale
In line with the nature and scale of its production and business activities, PV GAS’s organisational structure has changed accordingly. From a Gas Company with about 100 employees at the beginning, PV GAS has matured, becoming the Gas Processing and Trading Company in 1995, converting into a single-member limited liability company in November 2006, growing into Vietnam Gas Corporation from July 2007, undergoing equitisation to become PetroVietnam Gas Joint Stock Corporation in May 2011, and subsequently listing on the Ho Chi Minh City Stock Exchange in May 2012. Today, PV GAS has nearly 3,000 employees and charter capital of VND 19,139 billion – one of the joint stock companies with the largest charter capital in Vietnam today.
09/1990
Gas Company (~100 employees)
1995
Gas Processing and Trading Company
11/2006
Converted into a single-member limited liability company
07/2007
Vietnam Gas Corporation
05/2011
Vietnam Gas Corporation – Joint Stock Company
05/2012
Listed on the Ho Chi Minh City Stock Exchange
Today
Nearly 3,000 employees · Charter capital VND 19,139 billion
Over 30 years of achievements & leading position in the gas industry
Through more than 30 years of formation and development, continually transforming and strengthening its leading position within the Vietnam National Oil and Gas Group, PV GAS has achieved encouraging results with many impressive figures:
- Gas supplied / year
- 8 – 9 billion m³
- Nearly 2 million tonnes of LPG / year
- ~70% market share
- Condensate / year
- 90,000 tonnes
- Revenue · Profit after tax > USD 600 million
- > USD 4 billion
Operating results
- Transports and supplies about 8 - 9 billion m³ of gas per year to power plants, fertiliser plants and industrial customers, serving as the raw material and fuel to produce nearly 15% of the country’s electricity output and 70% of its fertiliser demand, and as fuel for many industrial parks.
- Trades nearly 2 million tonnes of LPG per year, holding nearly 70% of the national market, including 80% of the Southern market, 57% of the Northern market and 64% of the Central market.
- Trades about 90 thousand tonnes of condensate per year.
- Revenue of over USD 4 billion and profit after tax of over USD 600 million, with total assets of about USD 3.8 billion.
Leading position & prestigious honours
With its great achievements, PV GAS deserves to be recognised as Vietnam’s largest dry gas transporter and supplier and the country’s No. 1 LPG producer and trader. It has excellently fulfilled the tasks assigned by the State: contributing to national energy security and national food security, and ensuring stable supply to the LPG market. It has had the honour of receiving many Orders, Emulation Flags and Certificates of Merit from the State, ministries, sectors and localities and from the Vietnam National Oil and Gas Group, in particular the title of Hero of Labour conferred by the State in 2015, becoming an outstanding enterprise of the Vietnam National Oil and Gas Group and highly regarded by reputable organisations at home and abroad (every year PV GAS is among the top companies by market capitalisation on the Vietnamese stock market, among the leading 9 enterprises, consecutively honoured by Forbes in “Top 50 Best Listed Companies in Vietnam” and “Top 5 Companies with the Best Revenue and Profit”, honoured with the National Brand by the Ministry of Industry and Trade for many consecutive years, with an annual cash dividend rate maintained at over 25%).
Vision & orientation for the next period
In the coming years, PV GAS will continue striving to perfect its management system, expand and improve the efficiency of its production and business, and strengthen its competitiveness in the market, with human development as the key strategy. PV GAS firmly believes that with the efforts of all its employees and the attention and direction of the State and the Vietnam National Oil and Gas Group, PV GAS will continue to grow and become the leading entity in the gas industry, playing the core role in leading Vietnam’s gas market and contributing to national energy security.

PETROVIETNAM GAS JOINT STOCK CORPORATION

