PV GAS joins LNG Viet Nam

Wednesday, Oct 26, 2016 13:16

Leaders and representatives from the shareholders of LNG company pose for a photo in August, 2016. — Photo LNG

HA NOI (Biz Hub) — The decision to become a major shareholder in Viet Nam Liquid Natural Gas JSC (LNG Viet Nam) was announced by Petrol Vietnam Gas (PV Gas) on October 25, 2016.

The decision stated that the amount of capital issued by PV Gas will be VND51 billion (US$2.28 million), which would entitle PV Gas to 51 per cent charter capital ownership of LNG Viet Nam.

PV Gas is currently the largest shareholder of LNG Viet Nam, followed by Viet Nam's BITEXCO Corp, which owns 39 per cent of charter capital, and Japan's Tokyo Gas Asia, which owns 10.5 per cent.

LNG Viet Nam operates in the liquid natural gas value chain, including export and import, distribution, ownership and operation of warehouse and storage facilities.

PV Gas regards the establishment of LNG Viet Nam as an important turn, marking the next step in the progress and modernisation of PV Gas and a way forward to approach the world gas market.

LNG Viet Nam completed the business registration process and began operations from August 1, 2016. — VNS

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