Founded in 1990, all gas industry sectors managed by PV Gas have been completed and developed in a synchronized manner. Many gas projects have been put into operation, bringing high socio-economic efficiency, creating a foundation for PV Gas to develop into a fully integrated production and business model, including gas collection, reception, transportation, storage, processing, distribution, as well as trading, importing, and exporting gas and gas products.
Each year, PV Gas supplies nearly 8 billion cubic meters of gas, more than 600,000 tons of LPG (liquefied petroleum gas), and nearly 100,000 tons of condensate (light gasoline) as feedstock and fuel. These serve the production of nearly 40% of national electricity output, over 30% of the fertilizer market share, 10% of gasoline output, and over 60% of the country’s LPG market.
Economically, PV Gas has saved the nation billions of US dollars in foreign currency since 1995 by using gas instead of imported DO oil for power generation. PV Gas has contributed nearly VND 125 trillion in revenue to the petroleum industry and VND 23 trillion to the state budget.
Socially, PV Gas has helped reduce deforestation, protect the natural environment, and provide increasingly diverse clean energy sources to many customers. In particular, the advantages and competitive pricing of gas compared with other feedstock and fuel sources have attracted both domestic and foreign investors to Ba Ria – Vung Tau and Ca Mau, forming the Phu My and Ca Mau Gas – Power – Fertilizer Complexes with a total investment of USD 7 billion.
In addition, PV Gas has supplied gas and gas-derived products as feedstock and fuel for various industries such as electricity, fertilizer, steel, building materials, ceramics, and glass. Since 2008, PV Gas has started producing compressed natural gas (CNG) for transportation and urban use, contributing to environmental protection.
With the goal of building PV Gas into a leading enterprise in production scale, business performance, and competitiveness in the gas sector, the 2005–2009 period became an unprecedented stage of development. PV Gas consistently exceeded targets set by PetroVietnam. Key indicators such as revenue, output, budget contribution, and post-tax profits all grew year after year, with an average annual growth rate of 10–15%.
With these achievements, the Corporation has been honored with the First, Second, and Third-Class Labor Orders, the Vietnam Golden Star Award, along with many awards and certificates of merit from ministries, agencies, and localities over the years.
PV Gas has defined its strategy for the development of Vietnam’s gas industry toward 2025, aiming for accelerated, breakthrough, safe, high-quality, efficient, and sustainable growth on the most advanced technologies, oriented toward the common interests of the community and society, where safety and efficiency serve as guiding principles throughout its development.
PV Gas is striving to build a complete gas industry, with major projects being and to be implemented such as the Block B – O Mon gas pipeline, Nam Con Son 2 pipeline, East-West pipeline, LNG import project, and LNG cold storage facilities, thereby developing the gas industry into a key technical and economic sector.
The Corporation is determined to leverage internal resources while also making full use of external ones, implementing multi-ownership and strengthening international cooperation to expand its domestic market as well as quickly integrate into regional and global markets.
(Nhan Dan 11/6)
