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BSR and PV Gas D signed a Memorandum of Understanding on principles of LNG trading

On June 26, 2025, Binh Son Refining and Petrochemical Joint Stock Company (BSR) and PetroVietnam Low Pressure Gas Distribution Joint Stock Company (PV Gas D) signed a Memorandum of Understanding on cooperation principles for LNG gas trading. The event not only marked the strategic cooperation relationship between the two units in the energy industry but also opened the "door" to realizing the solution of using liquefied natural gas (LNG) to replace traditional fuels such as LPG and FO at Dung Quat Oil Refinery.

Việt NamViệt Nam26/06/2025

Attending the ceremony, on behalf of BSR , there were Mr. Nguyen Viet Thang - General Director of the Company; along with members of the Board of Directors, the Board of Management and leaders of functional departments. On behalf of PVGas D, there were Mr. Le Minh Hai - Chairman of the Board of Directors; Mr. Do Pham Hong Minh - Director of the Company, the Board of Management and representatives of functional departments/divisions.

Speaking at the event, BSR General Director Nguyen Viet Thang emphasized: In the context of the global energy industry transforming strongly to meet the requirements of sustainable development and the trend of reducing greenhouse gas emissions, choosing and using clean, environmentally friendly fuels is no longer an option but has become an inevitable requirement for all countries, industries and businesses.

BSR General Director Nguyen Viet Thang spoke at the signing ceremony.

With a commitment to achieve net zero emissions by 2050, leading enterprises such as BSR are pioneering the implementation of many specific solutions to realize the green transformation goal. In particular, the cooperation between BSR and PV GAS D in supplying LNG is a practical step in the roadmap to reduce emissions, while contributing to improving the operational efficiency of Dung Quat Refinery, towards sustainable development and international integration.

The signing ceremony of the Memorandum of Understanding with PV GAS D today is part of the process of concretizing the comprehensive cooperation agreement between BSR and PetroVietnam Gas Corporation (PV GAS - parent company of PV GAS D), with the common goal of "greening" production, reducing carbon emissions and promoting the LNG gas value chain in the ecosystem of the Vietnam National Energy and Industry Group. This is also a specific implementation step in the Group's energy transformation strategy, with the consistent orientation of developing clean energy through technological innovation, synchronous investment and strengthening linkages between member units.

“We believe that LNG is not only an environmentally efficient fuel conversion solution, but also brings sustainable economic value to BSR in the long term. At the same time, the use of LNG will help the Company meet increasingly stringent international standards on carbon emission reduction,” Mr. Nguyen Viet Thang emphasized.

It is known that since 2023, BSR has promoted the research on the use of LNG in production activities at Dung Quat Refinery. Technical analysis and environmental assessment show that LNG is the optimal choice to gradually replace LPG and FO in boilers, heating furnaces and fuel-using workshops. In particular, the use of LNG will help reduce CO₂ emissions, while limiting other toxic gases such as SOx, NOx and fine dust.

Representatives of BSR and PV Gas D leaders Signed a Memorandum of Understanding on cooperation in principle on LNG gas purchase and sale

On the side of PV Gas D, Mr. Do Pham Hong Minh - Director of the Company expressed his honor to accompany BSR in the journey of green energy transformation. Mr. Do Pham Hong Minh emphasized: “PV Gas D is a pioneer in distributing low-pressure gas in Vietnam, PV Gas D is constantly expanding its capacity to supply LNG to strategic customers. Currently, PV Gas D is supplying low-pressure gas to 130 customers nationwide with an annual output of about 1 billion m3 of gas. The signing of the Memorandum of Understanding today demonstrates our commitment to providing clean, safe, stable and efficient energy solutions to BSR - a leading partner in the energy and petrochemical sector”.

The signing ceremony of the Memorandum of Understanding between BSR and PVGas D marks the beginning of the roadmap for converting to environmentally friendly fuels at Dung Quat Refinery. According to the Memorandum, the two sides agreed on the principles, scope and responsibilities of cooperation, focusing especially on the use of LNG to replace existing fuels, in line with the progress of upgrading the technology system and the ability to receive, transport and store LNG. This will be the premise for the two sides to sign an official contract on LNG purchase and sale in the near future.

BSR Company presented souvenirs to PV Gas D - marking a new beginning in the cooperation process between the two units.

The transition from traditional fuels to green, environmentally friendly fuels at Dung Quat Refinery not only requires determination and vision, but also demonstrates BSR's pioneering role and social responsibility in implementing sustainable development goals. With the support of PV Gas D - a unit with experience and capacity in the gas sector, BSR will have more resources to accelerate the transition process, improve competitiveness and move towards green production standards according to international models.

BSR

Source: https://bsr.com.vn/web/bsr/-/bsr-va-pv-gas-d-ky-ket-bien-ban-ghi-nho-hop-tac-ve-nguyen-tac-mua-ban-khi-lng


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