PetroVietnam Gas Trading Co (PVGAS Trading) on February 7 completed the pipe connection, importing the first ship of refrigerated LPG for floating storage on the first working day after the Tet (Lunar New Year) holiday.

The carrier of 30 tonnes of refrigerated LPG (liquefied petroleum gas) transported by Gysis Corporation from Kuwait’s Mina Al Ahmadi Port is the eighth ship that the subsidiary of PV Gas has imported to this floating storage vessel since it came into operation on July 6, 2021, at the Hai Ha anchorage area in Thai Binh Province.

Viet Dragon 68 with a deadweight tonnage of 60,000 and capacity of over 44,000 tonnes of refrigerated LPG has been used to receive and store refrigerated LPG, and transported it to pressure vessels on domestic and international markets.

After seven months of operation, the vessel has received a total of more than 220,000 tonnes of refrigerated LPG, equivalent to more than VND4 trillion (US$174 million) from the international markets to serve the civil and industrial energy demand of the north and central regions in Viet Nam.

This is an important source of fuel and raw materials for the complex of large industrial production plants in the North such as Samsung, Vinfast and Hoa Phat Group, as well as to meet the needs of Vietnamese households.

In 2021, for the first time since its establishment, PVGAS Trading topped the domestic LGP market with a 70 per cent market share and revenue of about $1.5 billion. — VNS