Dear all honorable employees in the great family of PV Gas! The beautiful autumn is coming on over the country to celebrate the 67th anniversary of the Vietnamese National Day. Going along with the country over two decades of efforts to innovate and develop, all staffs of our PetroVietnam Gas Joint Stock Corporation (PV Gas) would welcome the national holidays, the 37th anniversary of establishment of Vietnam Oil and Gas Industry, the 22nd birthday of PV Gas and 17th anniversary of the first onshore gas flow.
On behalf of PV Gas leaders, I would like to wish you good health and joy in our happy day! On September 20, 1990, PetroVietnam Gas Joint Stock Corporation, initially known as Gas Company, was established to engage in gathering, transporting, storing, processing, distributing and trading in gas products. After 22 years of tireless efforts, today we are delighted with the new position of Petrovietnam Gas Joint Stock Corporation (PV Gas), and have great confidence in the bright future deserving to be a young and potential representative of the Vietnam gas industry.
After 22 years of establishment and development, PV Gas has built a relatively completed infrastructure system in terms of gas gathering, transporting, processing, storing and distributing with total assets of approximately 3 billion USD, nearly three times of the assets in 2008.
PV Gas has always achieved the high growth rate in revenue, particularly reaching over 30%/p.a in the period of 2008-2012 (revenues in 2012 are nearly 3 times higher than that of 2008). Currently, annual revenue of PV Gas has accounted for 10% of the Group’s revenue, and approximately 2.5% GDP of the whole country.
PV Gas is now supplying gas to 11 power plants, 2 fertilizer plants and many industrial end-users (there was only 1 power plant in 1995), playing an important role in ensuring national food and energy security. PV Gas ensures the feedstock gas to produce over 40% of national power output, 70% of Vietnam's urea demand, as well as to meet over 60% of the country’s demand for liquefied petroleum gas (LPG). Along with the 2 steel pipe manufacturing and pipeline coating plants, PV Gas can meet 100% domestic demand on Longitudinal submerged arc welded pipe (LSAW) and pipe coating.
Accumulated results from the beginning to end of September 2012:
+Dry gas supply: over 70 billion m3;
+LPG supply: nearly 7 million tons;
+Revenue: over 280,000 billion dongs;
+Profit before tax: nearly 60,000 billion dongs;
+State Budget contribution: over 33,000 billion dongs.
For sustainable development, PV Gas is actively implementing various comprehensive solutions with focus on investments in gas gathering, import, storage and distribution. In particular from now to 2020, PV Gas will complete and put into operation the following projects:
- Block B – O Mon Gas Project to transport gas to Southwestern region: with capacity of over 6 billion m3 of gas/year, to be completed in 2015-2016;
- Nam Con Son Gas Project 2 to transport gas to Southeastern region: with capacity of over 2 billion m3 of gas/year, to be completed in 2015;
- LNG import project to compensate for the gas shortage for domestic market: the 1st phase will be completed at Thi Vai, Ba Ria Vung Tau Province with capacity of 1 million tons of LNG in 2015, the next phase is located in Binh Thuan with capacity of 3-6 million tons of LNG/year expected to be completed by 2017-2018;
- LPG refrigerated storage in Thi Vai Terminal, Ba Ria Vung Tau Province: with capacity of 60,000 tons/year, to be completed in 2012;
- Thang Long Dong Do, Ham Rong Thai Binh and Ca Mau Gas Processing Plant Projects: scheduled to be completed in 2013 – 2015 respectively.
The fact that PV Gas has always ensured the safe operation for gas projects from the beginning up to now is especially significant. The 22 years of construction and development of the Company is not a long history, yet it has been the first difficult, challenging and glorious steps of our Company which greatly contributed to the development of the national oil and gas industry.
The Party, the State, the Ministry of Industry and Trade, PVN as well as many sectors, levels and localities have awarded the Company with lots of titles and rewards, including the highest prize so far, the Third-class Independence Medal.
With so much efforts and devotion to that cause, every employee of PV Gas has the right to be proud of our position today and the future widely unfolded ahead. All contributions over time of entire employees who have overcome countless difficulties to build up the brand name and the cause of the gas industry deserve great honor.
