In March this year, PV Gas started supplying LNG via trucks from the truck loading facility at its Thi Vai LNG import terminal to PV Gas CNG’s LNG satellite station in Thuan Dao in the southern Vietnamese province of Long An.
To adapt to the global energy transition, PV GAS is making strategic moves to shift towards an integrated energy business model, diversifying its product offerings including pipeline gas, LPG, CNG, and LNG, the firm said in a statement issued on August 30.
Starting in September, PV GAS is committed to supplying LNG nationwide, which will not only expand its supply range but also significantly boost its competitiveness and meet the diverse energy demands of the market, the firm said.
This strategy is seen as a “critical step” for PV Gas amid increasing energy market fluctuations, aligning with energy transition trends and the growing use of various gas products as fuel, it said.
The company said it aims to ensure flexibility and cost optimization for customers while boosting PV Gas’s competitive advantage.
The combination of diverse energy products and flexible supply methods such as pipeline, road, waterway, and soon railway transportation will help PV Gas meet the needs of customers in many different fields.
This includes heavy industry, manufacturing, and households.
PV Gas said it positions LNG as a “key” product in its market expansion strategy.
LNG is not only used in power plants to replace coal, but it is also widely used to serve industrial production, it said.
LNG investment
PV GAS sees a “great” potential in LNG as the demand for the fuel in Vietnam and the Asia-Pacific region continues to grow.
The transition to a new business model – integrated energy business, with a new product – LNG, combined with a new transportation method – railway, is expected to not only help PV Gas maintain its leading position in the gas industry in Vietnam but also create new development opportunities in the future, it said.
PV Gas said it has been investing “heavily” in LNG infrastructure in Vietnam.
The firm officially launched its Thi Vai LNG terminal in the coastal area southeast of Ho Chi Minh City on October 29, 2023 after nearly 4 years of construction and commissioning.
In July 2023, LNG giant Shell delivered the commissioning LNG cargo to the terminal from the Bontang LNG plant.
PetroChina International delivered in June this year the fifth LNG cargo to the Thi Vai LNG import terminal.
Vietnam’s first LNG import facility consists of one 180,000-cbm LNG tank, a jetty, and regas area.
The terminal has a capacity of 1 mtpa in its first phase, but PV Gas plans to boost the capacity to 3 mtpa in the next stage.
