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PV GAS (GAS) sets a growth target in 2024 

 Friday, March 29,2024

AsemconnectVietnam - Mr. Pham Van Phong, General Director of Vietnam Gas Corporation (PVGAS - stock code GAS) said that in 2024, the business's business results target is set to increase compared to the previous year despite many economic difficulties.

During the press meeting on March 5, Mr. Phong said that in 2024, the company's business results target of growth compared to the previous year is quite ambitious, both a challenge and a motivation, in The context of industrial and economic growth targets in the first two months of the year has not improved, signaling difficulties.
In the near future, PV GAS will start construction on phase 2 of Thi Vai LNG Warehouse with capacity increased to 3 million tons/year, expected to operate in 2026; Deploying the Son My LNG central port warehouse project in Binh Thuan with a total capacity of 6 million tons/year and implementing central LNG port warehouse investment projects in the Northern and North Central regions. In addition, PV GAS also established agreements with leading LNG suppliers in the world to ensure stable and competitive supply for the domestic market.
PV GAS has put the 1 million ton LNG Warehouse project in Thi Vai into operation since July 2023 and is the only unit currently granted a Certificate of eligibility for LNG export and import traders in Vietnam. To date, the LNG center infrastructure system at Thi Vai has been completed and officially deployed to supply LNG for industrial production from March 15, 2024 according to the LPG/CNG/LNG integrated business model.
The scale of the Thi Vai LNG Terminal project, according to Mr. Phong, is not too large compared to other projects in the industry, but in terms of energy security, it is of great significance to change PVGAS's business model, shifting from depending on domestic supply to proactive supply by importing gas when domestic supply declines.
In 2023, PV GAS has exceeded planned targets such as revenue of 116,000 billion VND, record LPG business output since its establishment - nearly 2.5 million tons, completed charter capital increase..
Source: VITIC/Tinnhanhchungkhoan


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