On March 2nd, Petroleum Gas Products Trading Company - PVGas Trading (under Vietnam Gas Corporation) sent a document to customers in the Southern region regarding the emergence of force majeure situations.
Accordingly, the first reason is that PVGas Trading's international supplier has officially declared force majeure due to the bridge collapse incident at NGL Juaymah Facility (Saudi Aramco) on February 23, 2026, causing the supply of Propane and Butane shipments under the contract to be interrupted.
This incident led to the suspension of all LPG (liquefied petroleum gas) shipments expected to be delivered to Thi Vai/Diem Dien LPG cold storage of PVGas from March 10, 2026.
The second cause stems from armed conflict in the Middle East, affecting the journey of LPG tankers through the Strait of Hormuz. As of 3 pm on March 2, 2026, at least two VLCC ships were hit by missiles while passing through this area. At the same time, some NGL/LPG production facilities of suppliers were also attacked, recording serious damage.
For safety reasons, VLGC ships transporting cold LPG from the Middle East under the delivery commitment from the second half of March to the end of April 2026 currently have no delivery plans for PVGas Trading.
Faced with the above force majeure situation, the company is forced to reduce the import delivery schedule from now until March 10, 2026 and temporarily cannot arrange import goods sources to deliver to customers after this time.
To overcome this, the business is urgently working with partners to find and arrange replacement sources of goods as soon as possible, with costs incurred at the most reasonable level possible. However, the current context is very difficult as the East Asian market is experiencing a shortage of supply; Thailand has even triggered an emergency and temporarily suspended gasoline and oil exports" - PVGas Trading said.
The company also requests customers to proactively balance production and business plans, and at the same time coordinate exchanges to jointly agree on feasible solutions in the coming time.
The business said it will continue to update the situation and provide information to customers as soon as possible, committing to closely coordinate and accompany customers to overcome the difficult period of the market.
