PV GAS to boost business and market development

PV GAS’ business and market development conference 2024

The conference featured reports on PV GAS’ strategies and implementation plan for its business development until 2030, with orientations towards 2035. Besides that, there were discussions about new regulations of gas product business management, as well as methods to stimulate the Corporation’s integrated business model with its key player to be LNG.  

PV GAS’ Vice President Nguyen Phuc Tue making the opening speech

Vietnam’s declining domestic gas sources along with the search for supplementary supplies remaining challenging have made gas prices maintained high, and imported LNG account for an increasing portion in the domestic consumption. Moreover, there has been a downward trend in PV GAS’ gas consumption year by year.

Beside supply constraints, competition from alternatives such as coals and hydroeclectricity and the orientations towards green energy have laid warning impacts on PV GAS’ operations. To counter these hardships, the Corporation has come up with initiatives including strategies for market development until 2030, oriented towards 2035, and regulations on gas product business management, with a focus on the transition to the its integrated business model.

Discussions at the conference

PV GAS’ strategies and plan for market development was discussed and thereby to be finalised, on the basis that they would be possible to be conducted and align with the set objectives while also able to clearly outline roles of each of PV GAS’ units and divisions. Moreover, they were said to be the foundation for the Corporatation to set targets for production scale for each customer group across regions and phases, enabling coordinated solutions for supply, investment, and market expansion.

The conference also agreed on PV GAS’ supply management model and market coordination methods. Under the Corporation’s integrated business model being smoothly coordinated, its units would be encouraged to maximize their business development capabilities to accelerate market growth and boost gas product sales.

PV GAS’ CEO & President Pham Van Phong

Concluding the conference, PV GAS’ President and CEO – Dr. Pham Van Phong affirmed the Corporation’s determination to execute its strategies and plan, aiming at its growth and sustainable development.