The Ministry of Industry and Trade on May 5 issued the Decision No. 01/GCNDDK-BCT to license Petrovietnam Gas Joint Stock Corporation (PV GAS) to import and export LNG. Thus, PV GAS became the first company in Vietnam to be recognized to meet standards to export and import LNG.
PV GAS is an affiliated unit of the Vietnam Oil and Gas Group (PVN) operating in the gas industry, with the main activities: storage, transportation, import and distribution of gas products, including dry gas (Natural Gas - NG), liquefied petroleum gas (LPG), compressed Natural Gas (CNG) and liquefied natural gas (LNG).
LNG is a low-emission, environmentally friendly form of energy. With its special advantages, LNG has the potential to gradually replace the traditional energies of industrial producers including coal, fuel oil, diesel..., and add for the exploited domestic gas sources which are mostly in the period of decline.
PV GAS has completed the construction of infrastructure ready for LNG import-export and trading, with the Thi Vai LNG Storage Project available to be put into use this year. The project includes: LNG terminal at the first phase with a capacity of 180,000m3 of LNG and one million tons of LNG per year through the warehouse; it is expected to increase to a capacity of 3 million tons of LNG/year in the second Phase. The LNG import port is capable of receiving LNG ships with a tonnage of up to 100,000 DWT and the LNG export station by tank truck will also be completed soon at the same time as the trial run of Thi Vai LNG terminal. Other component projects are also being accelerated, reaching completion milestones such as the Thi Vai-Phu My LNG transport pipeline project, the Thi Vai pressure reducing station project...
With the official license for importing and exporting LNG from the Ministry of Industry and Trade on May 5, PV GAS is the first unit to trade LNG in Vietnam, marking a new milestone of PV GAS development in the gas business space.
The license for importing and exporting LNG once again affirms the PV GAS leading position and pioneering role in Vietnam's gas industry.
