PV GAS: Pioneering journey with LNG

(Chinhphu.vn) - 35 years is a challenging yet extremely brilliant journey for PetroVietnam Gas Joint Stock Corporation (PV GAS). In that journey, liquefied natural gas (LNG) is not only a new field, but also a testament to the vision, pioneering spirit and aspiration for international integration of a Vietnamese energy enterprise.

PV GAS leaders take souvenir photos with the first LNG ship arriving in Vietnam - Photo: VGP/LN

From pioneering vision to shaping strategy

The idea of ​​integrating LNG into the national energy structure has been nurtured by PV GAS since 2007, when domestic energy demand increased rapidly, while domestic gas resources began to decline. In the context that LNG is still a new field for many developing countries, PV GAS has proactively researched and planned a long-term strategy to make LNG a key energy source to supplement the country's energy security.

The initial strategic steps were to proactively connect with the world's leading energy corporations. In the period 2011 - 2014, PV GAS had important contacts with international gas industry giants such as Qatargas, Gazprom, ... creating the premise for building a long-term technology and trade cooperation channel. These first "bricks" contributed to shaping PV GAS' pioneering role on the regional LNG map.

Not only stopping at meetings, in December 2019, PV GAS organized an international workshop on "Standards and regulations for the development of Vietnam's LNG industry", with the participation of representatives of the US Consulate in Vietnam and more than 80 delegates from management agencies and businesses of the two countries, marking an important step forward in the energy cooperation relationship between Vietnam and the United States. The workshop not only shared management and technology experiences, but also opened up a direction for building a legal corridor for LNG in Vietnam - a completely new field.

This event paved the way for future technical cooperation agreements, while affirming PV GAS’s initiative and leading position in LNG development in Vietnam. This is also a testament to the effective coordination between competent state agencies and enterprises in attracting investment and transferring advanced energy technology.

The US Consulate General in Vietnam and PV GAS leaders took a souvenir photo at PV GAS headquarters, February 2025 - Photo: VGP/LN

Courage to pass the "barrier" of strict international assessment

In the period of 2020-2025, the global energy industry faces challenges: the COVID-19 pandemic, the Russia-Ukraine conflict and unprecedented market fluctuations. In that context, PV GAS is determined to implement the LNG strategy with fundamental decisions. The unit builds a wide network of commercial partners, establishing relationships with many of the world's leading LNG suppliers such as Shell, QatarEnergy, ExxonMobil, TotalEnergies, BP... In particular, the signing of LNG purchase and sale framework contracts by voyage (MSPA) has created a solid foundation for long-term imports, ensuring stable energy supply for the domestic market, while affirming PV GAS's position in the international arena.

The port appraisal process (Due Diligence) of international partners is always considered a mandatory "passport" for PV GAS to officially enter the global LNG market. To overcome this challenge, PV GAS has made thorough and methodical preparations.

PV GAS has invested in upgrading the maritime security and safety system to meet OCIMF standards (the world's leading organization in the field of oil and gas transportation) and applied advanced management technology at the port warehouse, fully meeting technical, safety and environmental requirements. Thanks to that, PV GAS has successfully passed all appraisal requirements, officially becoming a trusted destination for the world's leading LNG shipping lines, opening up opportunities for long-term and sustainable cooperation for the country's energy industry.

PV GAS applies advanced management technology at the port warehouse, fully meeting technical, safety and environmental requirements - Photo: VGP/LN

Historic milestone of receiving the first LNG vessel

July 10, 2023 has gone down in history in the Vietnamese energy industry when the ship named Maran Gas Achilles, carrying the first 70,000 tons of imported LNG, docked at Thi Vai port (formerly Ba Ria - Vung Tau province). This event is an important milestone in PV GAS's green energy transformation roadmap, not only clearly demonstrating the pioneering role of a leading gas enterprise in the Vietnamese energy market, but also affirming the strategic vision, management skills, management capacity, methodical investment, and flexibility in market forecasting of the unit.

The investment in high-quality human resources, professional training in the fields of engineering, commerce, etc., the coordination between domestic and international participants, the completion and synchronization of LNG storage infrastructure, the ability to receive, store, and distribute LNG, as well as the integrated energy business model of PV GAS, etc. have opened a new era for the Vietnamese gas energy industry. For the first time, the name PV GAS officially appeared on the global energy map, a milestone for the ideas, ambitions, and aspirations of PV GAS employees in the journey to fulfill the mission of ensuring national food security and energy security.

From the initial ideas in 2007 to the historic milestone of 2023, PV GAS has demonstrated its mettle, perseverance and desire for integration. LNG is not only a new energy source, but also a symbol of intelligence, vision and will to conquer challenges. PV GAS has affirmed its pioneering and leading position by laying a solid foundation for Vietnam's energy future, starting the era of green, modern and sustainable LNG.

Le Nguyen

Source: https://baochinhphu.vn/pv-gas-hanh-trinh-tien-phong-voi-lng-102250912142946207.htm