HCM CITY — PetroVietnam Gas Joint Stock Corporation (PV GAS) has named subsidiary PetroVietnam Low Pressure Gas Distribution Joint Stock Company (PV GAS D) its official liquefied natural gas (LNG) distributor in Vietnamese market. 

It marks a significant milestone in the natural gas market, especially amidst the current downturn trend in the domestic natural gas production.

LNG, with its advantages in reducing environmental pollution, enhancing industrial production, ensuring national energy security, and fostering sustainable socio-economic development, has become a preferred energy option for many countries, including Việt Nam.

In line with the goal of achieving sustainable development, PV GAS and PV GAS D have taken the lead in establishing a comprehensive LNG supply chain to meet the growing demand for clean energy. 

It aligns with the commitment the Government made at the COP26 conference to hit a net-zero emissions target by 2050.

PV GAS D has announced the implementation of a plan to expand its natural gas/LNG distribution system nationwide to cater to the increasing demand while adhering to the national energy development strategy. 

With its skilled and experienced personnel, PV GAS D is dedicated to delivering top-notch services, ensuring reliable, safe and continuous supply to help reduce CO2 emissions by manufacturing companies.

Having operated in natural gas distribution in Việt Nam for 22 years, PV GAS D has built comprehensive infrastructure, including over 100km of pipelines spanning more than 20 key industrial zones across the country in locations such as Bà Rịa – Vũng Tàu, Đồng Nai, HCM City, and Thái Bình.

It now serves over 120 industrial customers nationwide. 

Wood Mackenzie, a global provider of data and analytics solutions for the renewables, energy and natural resources sectors, recently said Việt Nam's economic growth depends on strategic investments in gas infrastructure, LNG contracts and essential policy reforms since its gas demand would grow at an average of 12 per cent annually to potentially triple by the mid-2030s.

Gas consumption would continue to rise amid growing energy demand, increasing from eight million tonnes of oil equivalent in 2020 to 20 by 2035. 

While gas demand is forecast to increase, Việt Nam faces challenges in domestic production. Its existing gas fields, primarily located in its southeast, are maturing, leading to a 25 per cent decline in supply over the last five years, it added. — Bizhub