Petrovietnam and PV GAS Hold Seminar on LNG Market

Mr. Tran Quang Dung, General Manager of Communication and Corporate Culture Division at Petrovietnam made his opening speech

The seminar was a special meeting of Petrovietnam, in collaboration with PV GAS, with the press, as Petrovietnam/PV GAS had just completed the inauguration ceremony of the 1 MMTPA Thi Vai LNG Terminal, heralding a promising green energy journey of PV GAS. 

In his opening speech, Mr. Tran Quang Dung, General Manager of Petrovietnam's Communication and Corporate Culture Division, affirmed that 2023 was a year of major events for the Group, in line with its strategy to build a national energy industry giant. PV GAS, with its 1 MMTPA Thi Vai LNG Terminal was an excellent and pioneering example, symbolizing the Group’s green energy strategy.

At the seminar, PV GAS presented a film highlighting the inauguration of the LNG Terminal, provided an overview of its business activities in 2023, outlined the overall management and operation of PV GAS Vung Tau Terminal, and offered detailed information about PV GAS’ plans for developing the LNG value chain in the future.

Seminar on the LNG Market

PV GAS Vice President Huynh Quang Hai shared the challenging journey that PV GAS undertook to bring LNG into Vietnam. On behalf of PV GAS’ leadership, he affirmed that in the first 10 months of 2023, PV GAS maintained the safe and efficient operation of all gas facilities. Especially, financial targets were exceeded beyond what was planned, with profits and budget contributions achieved ahead of schedule by 4-6 months.

Currently, Phase 1 of Thi Vai LNG Terminal has been completed, and Phase 2 will soon be implemented to increase its capacity to 3 MMTPA. PV GAS has been also investing in the construction of Son My LNG Terminal in Binh Thuan, with an expected capacity of 3.6 MMTPA upon completion of Phase 1, with a rise to 10 MMTPA for the next one. In light of that, PV GAS' LNG infrastructure will essentially meet the energy needs for the Southeast and South-Central regions in the future.

Additionally, PV GAS will expand its LNG infrastructure following the "LNG Hubs" model in North and North Central regions. 

However, as the first and only entity in Vietnam, as of present, with the qualifications for LNG import and export and trading, and entrusted with significant responsibilities by the Group, PV GAS is facing significant challenges in terms of time and policy mechanisms in the development of its LNG strategy, truly shaping an effective and groundbreaking "Green Energy Journey."

PPV GAS’ Vice President Huynh Quang Hai answered questions from the press

The seminar was a valuable opportunity for open and constructive exchange between the business and the press, providing authentic information to collectively voice support for the development of the Group's Green Energy Strategy, aligning with the Government's commitment at COP26. 

In concluding the seminar, representatives of Petrovietnam and PV GAS acknowledged the opinions expressed during today's session. They conveyed a desire to continue receiving contributions from press agencies nationwide, leveraging the experience gained from practical activities, and providing suggestions to genuinely expand the LNG market in practice while addressing challenges in the implementation process.

The delegation visited the 1 MMTPA Thi Vai LNG Terminal.

The attention from press agencies towards Petrovietnam/PV GAS is indeed a significant source of motivation, helping Petrovietnam/PV GAS maintain the title of a transparent and sustainably developing Group/Corporation, a leading entity in Vietnam’s oil and gas industry.

Immediately following the seminar, all delegates participated in a tour to the 1 MMTPA Thi Vai LNG Warehouse – the pioneering project in Vietnam's LNG journey.