With high determination and synchronous and effective solutions, PetroVietnam Gas Corporation (PV GAS) has successfully achieved its general goals and achieved many impressive results in the period of 2020 - 2025. These achievements not only affirm the core position of PV GAS in the Vietnam National Industry and Energy Group ( Petrovietnam ) in particular and the Vietnamese gas energy industry in general, but also create a solid foundation for sustainable transformation and development in the future.
Impressive results, affirming the pivotal role in Petrovietnam
The 2020-2025 term took place in a volatile global and domestic context: the Covid-19 pandemic, the Russia-Ukraine military conflict, trade tensions and a decline in domestic gas production. However, PV GAS has turned challenges into opportunities, achieving outstanding business results.
PV GAS makes a strong mark in production and business
Over the past 5 years, PV GAS's revenue and total assets have all increased year after year. In particular, the Corporation's total revenue has reached a record of 130 trillion VND in 2024.
PV GAS continues to affirm its leading role in the Vietnamese gas energy industry, maintaining 100% of the national dry gas and LNG market share; 65% - 70% of the wholesale market share and 22.5% of the national LPG retail market share; its brand and reputation are enhanced and affirmed through objective assessments from domestic and international organizations. The Corporation is rated BB+ by Fitch Ratings, honored to be in the Top 100 of the list of 500 largest companies in Southeast Asia and has been in the List of 50 best listed companies in Vietnam for 13 consecutive years by Forbes Vietnam...
Expanding markets and breaking through in international business
Not only stopping at the domestic market, PV GAS has proactively expanded its influence and achieved important steps in the international market. A notable highlight is the strong growth of LPG and LNG export and international business activities. In particular, 2025 marks a historic milestone when PV GAS first made its name on the international LNG business map, opening up new opportunities and outstanding development potential.
Market development is also focused on, especially expanding the customer base outside of electricity, showing market diversification and reducing dependence on a certain customer segment.
PV GAS always considers gas energy infrastructure investment as a strategic task, ensuring long-term and sustainable development. In particular, the 1 million ton LNG project chain at Thi Vai has been completed and put into effective commercial operation, affirming PV GAS's reopening position in the national gas energy industry, putting Vietnam on the global LNG map. This is an important premise for the development of Central LNG Ports (LNG Hubs) in the future.
In addition, PV GAS is also actively implementing other key projects such as the Thi Vai LNG storage expansion project, increasing the capacity of the storage facility to 3 million tons/year, the Son My LNG port project, the Northern and North Central LPG/LNG cold storage project, etc. At the same time, the Corporation is also closely coordinating with Petrovietnam and partners to accelerate the progress of the Block B - O Mon gas pipeline project, ensuring synchronization with the entire project chain.
Restructuring and transforming business models effectively.
Restructuring, transforming business models and improving corporate governance efficiency have created clear changes for PV GAS in the recent period, clearly demonstrated through streamlining the apparatus, improving efficiency and expanding the market.
The business model is shifting towards providing integrated energy solutions, not only enhancing competitiveness but also strongly promoting external service provision.
Focus on human resource development and innovation.
PV GAS always focuses on building a team of professional, highly qualified human resources. The Corporation has completed the construction of a Human Resource Management System according to international standards, as a basis for performance-based salary payment and KPI-based performance evaluation.
The application of science and technology, innovation and digital transformation has been promoted, bringing many positive results with 150 initiatives implemented, of which 20 initiatives were recognized at the Group level or higher, with a total profit of more than VND 1,700 billion. In particular, PV GAS has established a research and development department to focus on researching and piloting green hydrogen/ammonia; transporting, storing and using CO2, demonstrating the vision of leading the future energy trend based on the advantages and potentials of PV GAS.
Along with production and business activities, social security work is always considered a part of the responsibility in the development process of the enterprise, contributing to spreading, penetrating and enhancing PV GAS Corporate Culture, Petrovietnam Culture in the community.
The outstanding achievements in the past 5 years have created a solid foundation for PV GAS to continue to transform and develop more strongly in the context of the global energy industry facing many new opportunities and challenges. This is the clearest affirmation of the correct and consistent leadership and direction of the PV GAS Party Committee, the solidarity and creativity in production and business management of the leadership and all employees of PV GAS throughout the past time.
Source: https://baolangson.vn/pv-gas-nhung-dau-an-chuyen-minh-manh-me-giai-doan-2020-2025-5052476.html
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