AsemconnectVietnam - In the meeting to update the business results of the first 6 months and the business orientation and plan for the last 6 months of the past year, the Board of Directors of Vietnam Gas Corporation (PV GAS) reported the estimated revenue and profit for the whole year of 2023.

Accordingly, PV GAS estimates the business result in 2023 with total revenue of VND89,496 billion, profit before tax is more than VND13,000 billion and profit after tax is VND10,412 billion.
Particularly in the first 6 months of the year, PV GAS is estimated to realize VND45,117 billion in revenue, equaling 117% of the plan. Profit after tax is estimated at VND7,542 billion, equaling 183% of the plan and profit after tax is estimated at VND6,035 billion, equaling 183% of the plan.
At the 2023 Annual General Meeting of Shareholders held on May 25, PV GAS' shareholders approved the 2023 plan with a revenue target of VND76,441 billion, down 24% compared to 2022; profit after tax decreased by more than 56%, to VND6,539 billion. Thus, after the first half of the year, PV GAS has completed 59% of the revenue plan and more than 92% of the full year profit after tax plan.
Also in the first 6 months of the year, PV GAS completed and exceeded most of the operating targets (output target exceeded by 3-15%; revenue exceeded by 13-17%; profit before tax and after tax exceeded by 81-83%; payment to the State budget exceeded by 57-60%).
Receiving over 4.1 billion m3 of moist gas, producing and supplying over 3.9 billion m3 of dry gas; production of 46.4 thousand tons of condensate; producing and trading nearly 1.1 million tons of LPG (for export and international trading of nearly 0.3 million tons).
In the second half of the year, PV GAS will focus on the main groups of tasks related to operation and safety; develop the market, increase the consumption of gas and LNG; formulating mechanisms, policies, charges, gas purchase and sale contracts; implementing key projects, deep processing, value chain linkage; carry out restructuring, strengthen predictive analysis, improve governance/administration; digital transformation and building ERP system; do brand promotion...
As part of the gas market development plan and strategy in Vietnam, on July 10, 2023, PV GAS will receive the first LNG ship to dock at Thi Vai Warehouse, Ba Ria - Vung Tau province. The ship Maran Gas Achilles (Greek nationality) carried nearly 70,000 tons of LNG from Bontang port - Indonesia to Thi Vai LNG Terminal - Vietnam.
Up to this point, LNG Thi Vai Terminal Warehouse is the first LNG complex with the largest and most modern scale in Vietnam, with a capacity of 1 million tons of LNG per year through the warehouse in phase 1, and upgraded to 3 million tons of LNG/year in phase 2. The Thi Vai LNG warehouse project has been invested by PV GAS in construction since 2019, receiving LNG ships with a capacity of up to 100,000 tons, with 180,000 m3 LNG storage tanks and most advanced technological equipment, meeting Vietnamese and international standards and regulations; ensure safe operation according to the Ship-Shore Compatibility Study.
N.Nga
Source: VITIC/Tinnhanhchungkhoan