PV GAS: A pioneering journey with LNG

(Chinhphu.vn) - 35 years is a challenging yet incredibly glorious journey for Vietnam Gas Corporation (PV GAS). Throughout this journey, liquefied natural gas (LNG) is not only a new field but also a testament to the foresight, pioneering spirit, and aspiration for international integration of a Vietnamese energy enterprise.

PV GAS leaders pose for a commemorative photo with the first LNG vessel to arrive in Vietnam - Photo: VGP/LN

From pioneering vision to strategic shaping

The idea of ​​integrating LNG into the national energy mix has been nurtured by PV GAS since 2007, when domestic energy demand increased rapidly while domestic gas resources began to decline. Given that LNG was still a relatively new field in many developing countries, PV GAS proactively researched and formulated a long-term strategy to make LNG a key energy source to supplement national energy security.

The initial strategic steps involved proactively connecting with leading global energy corporations. Between 2011 and 2014, PV GAS had crucial contacts with major international gas companies such as Qatargas and Gazprom, laying the groundwork for long-term technological and commercial cooperation. These first steps contributed to shaping PV GAS's pioneering role on the regional LNG map.

Beyond just meetings, in December 2019, PV GAS organized an international workshop on "Regulations and Standards for the Development of Vietnam's LNG Industry," with the participation of representatives from the US Consulate in Vietnam and over 80 delegates from regulatory agencies and businesses of both countries. This marked a significant step forward in energy cooperation between Vietnam and the United States. The workshop not only shared management and technological experiences but also opened up avenues for building a legal framework for LNG in Vietnam – a completely new field.

This event paved the way for subsequent technical cooperation agreements, while affirming PV GAS's proactive approach and leading position in LNG development in Vietnam. It also demonstrates the effective coordination between competent state agencies and businesses in attracting investment and transferring advanced energy technologies.

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

The courage to overcome the rigorous international evaluation process.

During the 2020-2025 period, the global energy sector faced challenges: the COVID-19 pandemic, the Russia-Ukraine conflict, and unprecedented market volatility. Against this backdrop, PV GAS steadfastly implemented its LNG strategy with fundamental policy decisions. The company built a wide network of trading partners, establishing relationships with many leading global LNG suppliers such as Shell, Qatar Energy, ExxonMobil, TotalEnergies, BP, etc. In particular, the signing of framework agreements for LNG shipments (MSPA) created a solid foundation for long-term imports, ensuring a stable energy supply for the domestic market and affirming PV GAS's position internationally.

The port due diligence process by 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 systematic preparations.

PV GAS has invested in upgrading its 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 its terminals, comprehensively meeting technical, safety, and environmental requirements. As a result, PV GAS has successfully passed all assessment requirements, officially becoming a trusted destination for leading global LNG carriers, opening up opportunities for long-term and sustainable cooperation for the country's energy sector.

PV GAS applies advanced management technology at its port and storage facilities, comprehensively meeting technical, safety, and environmental requirements - Photo: VGP/LN

A historic milestone: receiving the first LNG vessel.

July 10, 2023, went down in the history of Vietnam's energy industry when the ship named Maran Gas Achilles, carrying approximately 70,000 tons of imported LNG, docked at Thi Vai port (formerly Ba Ria - Vung Tau province). This event marked a significant historical milestone in PV GAS's green energy transition, not only clearly demonstrating the pioneering role of this leading gas company in the Vietnamese energy market, but also affirming the company's strategic vision, management skills, management capabilities, systematic investment approach, and flexibility in market forecasting.

Investing in high-quality human resources, providing specialized training in technical and commercial fields, coordinating with domestic and international stakeholders, perfecting and synchronizing LNG storage infrastructure, improving LNG receiving, storage, and distribution capabilities, as well as PV GAS's integrated energy business model... have opened a new era for Vietnam's gas energy industry. For the first time, the name PV GAS officially appeared on the global energy map, a significant milestone for the ideas, ambitions, and aspirations of the PV GAS workforce in fulfilling their mission of ensuring national food and energy security.

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

Le Nguyen

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