Petrovietnam facilitates production, trading of gas products

Workers carry out maintenance at the Dinh Co gas factory. (Photo: PV GAS)

Hanoi (VNA) – The Vietnam Oil and Gas Group (Petrovietnam) is taking measures to create favourable conditions for production and trading of gas products in the remaining months of 2022, given negative impacts of the world energy crisis on the consumption demand for liquefied petroleum gas (LPG), and liquefied natural gas (LNG).

Specifically, businesses will have to face a risk of rapid and high LPG price fluctuations that can reduce the competitiveness of this kind of gas with alternative fuels.

For the LNG business, Hoang Viet Dung, Deputy Director of PV GAS Trading – an affiliate of the Petrovietnam Gas Joint Stock Corporation (PV GAS), said that PV GAS plans to start implementing business activities from the end of 2022 after completing the Thi Vai LNG Warehouse project.

He stressed the need to supplement mechanisms and policies to ensure that LNG business management suits the situation, and carry out effective business solutions and strategic orientations to bring into play strengths of the group’s subsidiaries.

Petrovietnam Deputy General Director Le Xuan Huyen hailed contributions made by PV GAS and the Binh Son Refining and Petrochemical Joint Stock Company (BSR) to the group’s fulfilment of common targets.

He asked the units to actively study the market and promptly grasp opportunities opened up during Vietnam’s energy transition process./.

VNA