PV GAS supplied nearly 70 thousand tons of LNG to EVN for electricity production in 2024

Recently, Vietnam Gas Corporation (PV GAS) signed a contract to sell nearly 70 thousand tons of liquefied natural gas (LNG) for the Electricity of Vietnam (EVN) to supplement gas sources for electricity production in 2024.

Accordingly, LNG gas will be supplied to Phu My 3 Thermal Power Plant (April-May 2024), adding about 500 million kWh to the power system. The urgency to supplement imported LNG gas sources demonstrates PV GAS’s role and commitment to ensuring energy security and ensuring fuel sources for national electricity production.

PV GAS – a unit with nearly 95.76% of shares owned by Vietnam Oil and Gas Group (PVN), is the leading unit assigned by the Party and State to lead Vietnam’s gas industry within the framework of Open a competitive energy market (according to Decision No. 2233/QD-TTg dated December 28, 2020, of the Prime Minister). Up to now, PV GAS is the first and only enterprise qualified to import and export LNG; At the same time, it owns a complete LNG port warehouse infrastructure system in Vietnam (operating since July 2023).

LNG tank of PV GAS

PV GAS’s pioneering use of LNG to serve electricity production in Vietnam in the context that other fuel sources are facing difficulties affirms PV GAS’s commitment to the country in its role of ensuring national energy security.

Implementing the Prime Minister’s direction (in Directive No. 05/CT-TTg dated February 14, 2024), the Al Jassasiya oil tank will provide nearly 70 thousand tons of LNG from Ras Laffan, Qatar, expected to arrive at PV GAS Vung Tau Warehouse on April 11, 2024. Providing fuel for electricity production in Phu My 3 Thermal Power Plant with a strong demonstration in the spirit of “Energy originates innovation” in PV GAS’s clean energy journey.

Ships carrying imported LNG arrive at Thi Vai port, Ba Ria – Vung Tau in 2023

With the support of PVN, ministries, agencies and the Government, in the coming time, PV GAS will actively develop and work with competent authorities to review and remove policy bottlenecks related to the mechanism and infrastructure in deploying LNG products in Vietnam. Focusing on implementing the construction of central LNG warehouse infrastructure (LNG Hub) to optimize the resources, factor endowments of the country, develop mechanisms to encourage and promote infrastructure investment, along with specific regulations on price parity transfer mechanisms, volume monopoly sales, and principles on fees, contributing to construct LNG business market with transparent, fair and sustainable