PV Gas – leading firm in domestic gas industry

PetroVietnam Gas Joint Stock Corporation (PV Gas) has taken the lead in the Vietnam Oil and Gas Group (PetroVietnam) and played key role in the domestic gas industry, heard a meeting celebrating the 30th founding anniversary of the corporation in HCM City on September 18.

Duong Manh Son, PV Gas General Director, said with major projects, PV Gas has brought the gas industry forward in the national economy.

The corporation has built a complete infrastructure system for the gas industry with four gas systems with 1,200km of pipelines, three gas factories and 13 liquefied petroleum gas (LPG) warehouses whose combined capacity stands at nearly 100,000 tonnes, he said, stressing that its total asset exceeds 62 trillion VND (2.67 billion USD).

Annually, PV Gas provides raw materials for the production of 20 percent of the country’s electricity output and meets 70 percent of national nitrogen demand. It has dominated the domestic dry gas market and accounted for 65 percent of the country’s LPG market share.

Despite the impact of the dropping petroleum price and COVID-19, PV Gas has maintained its growth and worked to ensure the progress of many projects in line with the Vietnam Oil and Gas Industry Development Strategy.

At the meeting, PV Gas honoured 10 outstanding initiatives and individuals that have significantly contributed to the corporation’s development over the past time.

Source: Vietnam News Agency