PV GAS plans management strategy for 2025

A working delegation from Vietnam Oil and Gas Group (Petrovietnam), led by Mr. Le Manh Hung, Secretary of the Party Committee and Chairman of the Board of Member of Petrovietnam, had a meeting with Petrovietnam Gas Corporation (PV GAS) at PV GAS Vung Tau Processing Company (PV GAS VUNG TAU). During the meeting, Chairman Le Manh Hung emphasized the urgent task for 2025: accelerating the progress to increase the capacity of the Thi Vai LNG Terminal to 3 MTPA, ensuring sustainable development in the future.

President and CEO of PV GAS, Dr. Pham Van Phong, reported at the meeting

The President and CEO of PV GAS reported to Petrovietnam delegation on the actual situation at PV GAS, including the implementation of the production and business plan for January, forecasts for February and the entire first quarter; the operation status of the terminal storage system, the gas supply capacity for the Southeast region; the investment progress to increase the port capacity to 3 MTPA; infrastructure pipeline connection investments, and other tasks.

Right from the beginning of 2025, PV GAS’ leaders came up with management plans and thoroughly communicated the tasks to be implemented throughout the year. In January 2025, coinciding with the Lunar New Year holiday, industrial production mostly paused, affecting PV GAS' business activities and revenue. The challenging situation was expected to extend into February due to low gas mobilization.

Currently, PV GAS has basically completed preparations for the investment to raise the capacity of Thi Vai LNG Terminal to 3 MTPA, with the EPC contract to be signed by the end of 2025. The Corporation is also actively working to increase the send-out capacity of the Thi Vai Terminal to 7.7 million cubic meters per day by optimizing existing infrastructure investments. At the same time, investments in floating storage to increase LNG supply capacity for the Southeast region to 22-23 million cubic meters will be under research. Regarding infrastructure business, PV GAS Logistics branch is to be establish to oversee and manage the existing supply chain and find ways to connect the Southwest pipeline

Members of Petrovietnam delegation had discussions and comments related to investment in PV GAS’ LNG system development, natural gas sources and international business.

Chairman of the Board of Members of Petrovietnam Le Manh Hung highly appreciated PV GAS for proactively planning the 2025 management plan, directions, solutions and embarking on early implementation, thereby demonstrating the high determination of the leader team in the work of the year and the whole period.

Petrovietnam presented gifts to encourage PV GAS

Regarding the plans and development strategies of the unit for 2025 and the upcoming period, the Chairman of the BOM of Petrovietnam emphasized and reminded PV GAS and the relevant divisions/units to coordinate on the following issues: creating a chart to manage the annual plan implementation; deploying LNG-related investments and infrastructure business investments; promptly implementing the project to increase the capacity of Thi Vai LNG Terminal to 3 MTPA; unifying the formation of a division for managing infrastructure exploitation business, enhancing competitiveness to maintain its position in the gas market; etc.

The Group's leaders expressed confidence that, with the outstanding success achieved in 2024 as a foundation, along with the proactiveness and determination of both the leaders and employees, PV GAS would successfully accomplish its management plan for 2025.

The Secretary of the Party Committee and Chairman of the Board of Directors of PV GAS committed to implementing tasks according to the Group's directives

At the end of the meeting, Mr. Nguyen Thanh Binh, Secretary of the Party Committee and Chairman of the Board of Directors of PV GAS, thanked the Group for its attention, guidance, and support in all aspects of the unit's operations. On behalf of PV GAS, he committed to carrying out the assigned tasks as directed by the Group.