Despite facing many difficulties and disadvantages from many sides such as: double and larger than forecast decline of domestic gas sources and gas consumption demand for electricity production, alternative energy types, policy mechanisms for the gas/LNG sector are still in the process of completion... but 2024 is still a memorable year for PV GAS.

Regarding output, PV GAS is expected to exceed all targets, of which LPG business achieved a record output; received gas (including imported LNG) reached nearly 7 billion m3, equal to 102% of the plan; Gas production and supply (including regasified gas from LNG) reached over 6.4 billion m3, equal to 102% of the plan; LPG production reached 392 thousand tons, equal to 101% of the plan; LPG business reached nearly 3.1 million tons, equal to 166% of the plan, up 25% compared to 2023, accounting for 70% of the national LPG market share; of which international LPG business reached an output of nearly 1.5 million tons, the highest ever and up 68% compared to 2023.

1_ PV GAS CEO _VINH DANH HI.jpg
PV GAS General Director Pham Van Phong received Petrovietnam 's honor for the group's outstanding typical unit.

In particular, implementing the spirit of adding new motivation, PV GAS has imported and supplied 400 million m3 of LNG to electricity customers during the peak dry season of 2024 and served the trial run of Nhon Trach 3 Power Plant project - affirming the determination to dare to think, dare to do, dare to take responsibility of the collective of PV GAS officers and employees.

In 2024, PV GAS marked the milestone of supplying imported LNG for electricity production in Vietnam for the first time; successfully implementing the supply of LNG to the Northern region by train and tanker trucks from early September 2024, thereby completing the full gas energy supply chain by pipeline, waterway, road and rail, expanding the comprehensive, flexible and widespread energy supply map across the entire territory of Vietnam; successfully implementing the first international LNG business transaction with a volume of over 70 thousand tons - marking PV GAS's entry into the market and putting its name on the international LNG business map.

Regarding financial targets, PV GAS is expected to exceed the plan by 50-82% of all targets, in which revenue and profit both set records, with high growth compared to 2023, specifically: total revenue of the Corporation reached nearly 130 trillion VND, up 10% compared to 2023, equivalent to nearly 13% of total revenue of Petrovietnam; consolidated revenue reached nearly 105 trillion VND, equal to 150% of the plan, up 14% compared to 2023; pre-tax profit reached over 13 trillion VND, equal to 182% of the plan, equivalent to nearly 25% of total profit of Petrovietnam; budget contribution was over 6 trillion VND, equal to 161% of the plan.

Thuy Linh