PV Gas to import natural gas
Thursday, June 21,2018AsemconnectVietnam - PetroVietnam Gas Joint Stock Corporation (PV Gas) has said it will build more pipelines and seaport infrastructure to import natural gas given forecasts its gas output will fall in the next decade.
Le Nhu Linh, chairman of PV Gas, told the Daily on June 20 that gas output is in decline. Gas-fired power plants now account for 30% of the country’s total power output, but domestic gas output is steadily dropping. Therefore, gas imports are needed to deal with a possible shortage in natural gas in the near future.
PV Gas intends to import gas from foreign suppliers and is in negotiations with Indonesia and Malaysia to carry gas from these countries to Vietnam through new and existing pipelines, Linh noted.
The corporation provides some nine billion cubic meters of gas each year to nearly 10 thermal power plants, mostly in southern Vietnam, including Phu My, Ba Ria, Nhon Trach and Ca Mau, generating some 30% of Vietnam’s electricity output.
More thermal power plants are slated for investment and will be put into operation to meet a surge in electricity demand. PV Gas will supply gas for these new plants, including Phu My 1, Phu My 2, Nhon Trach 3 and Nhon Trach 4.
The company plans to inject an estimated US$4 billion into gas transport, processing, distribution and import projects between now and 2020 to successfully supply gas for the country.
PV Gas is now responsible for 30% of Vietnam’s energy output and for fertilizer facilities that meet 70% of the country’s total urea fertilizer needs, holding 70% of the LPG market.
Source: thesaigontimes.vn
In 2023, Refrigeration Electrical Engineering (REE) plans to increase profit slightly by 0.3% to VND 2,700 billion
PVOIL (OIL): Outstanding output growth in 2022
Sudico AGM (SJS): Growth target in 2023 from 10-15% of revenue
In 2023, Hoang Huy Investment Services (HHS) expects profit up and dividend of 8%
2023 Nam A Bank (NAB) Annual General Meeting of Shareholders: List shares and expand overseas branches
Mobile World (MWG) plans to increase its profit slightly to VND4,200 billion in 2023
Masan (MSN) continues to attract foreign capital up to VND15,000 billion
Century Synthetic Fiber Coporation (STK) successfully approached USD52.5 million in syndicated loans
Hoa Sen AGM for the year 2022-2023 (HSG): HSG will be profitable in March, April and May 2023
Fitch Ratings first international credit rating with GAS at “BB”
PVCoating (PVB) executes a pipe wrapping contract for Vietsovpetro
Hoang Anh Gia Lai (HAG) earns VND108 billion profit in February 2023
Nam A Bank (NAB) expects VND2,400 billion dong pre-tax profit, 25% dividend
475,000 tons of Hoa Phat steel (HPG) were consumed in February
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...