At 8:00 on April 11, 2024, the Al Jassasiya ship, carrying almost 70,000 tons of LNG from the port of Ras Laffan (Qatar), docked at the PV GAS terminal in Vung Tau. This was PV GAS's second LNG cargo and the first time LNG was used to serve electricity generation in Vietnam.
Nearly 70,000 tons of LNG will be supplied by PV GAS to Vietnam Electricity Group's (EVN) Phu My 3 thermal power plant in April and May. PV GAS, with almost 95.76% of shares owned by Vietnam Oil and Gas Group (Petrovietnam), is the leading unit commissioned by the Party and State to lead Vietnam's gas industry under the implementation of the competitive energy market in accordance with the Prime Minister's Decision No. 2233/QD-TTg issued on December 28, 2020. So far, PV GAS is the first and only company qualified to import and export LNG and has an infrastructure LNG plant in Vietnam that has been operational since July 2023.
Like the first LNG cargo in July 2023, the reception of the second was particularly accentuated with perfect coordination between many functional units and agencies. The entire process of handling the ship from the “0” buoy to the terminal dock was carried out in absolute safety, in accordance with regulations and on time. This fluid and standardized coordination once again demonstrated the management and operational capacity of PV GAS. The Al Jassasiya vessel was scheduled to dock and unload for approximately 36 hours before leaving the Terminal.
PV GAS will supply nearly 70,000 tons of LNG
With the support of the Ministries and the State, as well as Petrovietnam, in the coming times, PV GAS will actively be of great help to the Authorities with the review and resolution of political limitations related to the mechanisms and infrastructure in the implementation of LNG products in Vietnam.
Specifically, focusing on the construction of centralized LNG infrastructure to optimize the country's resources, the establishment of mechanisms to encourage investment in infrastructure, along with specific provisions on price transfer mechanisms, volume guarantees, tariff principles will contribute to building a transparent and sustainable LNG business market.
This fluid and standardized coordination demonstrated once again the management and operational capacity of PV GAS.
On March 29, 2024, PV GAS signed an LNG contract with EVN to complement the input for power generation in 2024. This will be distributed to the Phu My 3 Thermal Power Plant in the period of April-May 2024 as an add-on of about 500 million kWh to the power system.Previously, on March 15, 2024, PV GAS officially supplied LNG for industrial production with the first LNG tankers in Vietnam, serving customers in Thuan Dao Industrial Zone, Long An.
As the first and only LNG importer/exporter to date in Vietnam, PV GAS continues to affirm its pioneering position in the country's gas industry, committing to guarantee supply to meet the needs of electricity and industrial production, contributing to strong and prosperous Vietnam economy.
