In 2024, PV GAS will implement the Resolution of the General Meeting of Shareholders in favorable conditions and intertwined with difficulties and challenges. In the context of the world's geopolitical situation continuing to develop complicatedly, the world economy is growing slowly and unevenly.
Along with that, domestic gas production continued to decline, only 86% over the same period; the consumption demand of electricity customers was only 83% compared to 2023 due to increased mobilization from other energy sources with competitive/committed prices (coal, renewable energy...). Policy mechanisms related to gas and LNG still have many shortcomings and have not been completed...,
Voi viec luong truoc nhung kho khan, tan dung tot cac co hoi noi tai va yeu to bien dong cua thi truong, cung phuong cham “lam moi dong luc cu, bo sung dong luc moi”, lanh dao PV GAS da quyet tam, kien tri thuc hien dong bo cac giai phap quan tri dieu hanh, phat trien kinh doanh, day manh va mo rong thi truong kinh doanh quoc te,... cung voi su ho tro tich cuc tu cac don vi trong va ngoai nganh, su phoi hop nhip nhang cac khau tu thuong nguon den ha nguon, su chi dao va ung ho Positive from Vietnam National Energy Group (Petrovietnam), ministries/governments and especially support, share and accompany from shareholders. As a result, the tasks and targets of the annual plan have been controlled, closely followed by PV GAS, minimizing the level of influence from adverse factors, successfully completing the important goals and tasks.
With solidarity, efforts, determination, determination, synchronization, and efficiency in leadership, direction, management and labor, PV GAS continues to overcome challenges, take advantage of opportunities, and successfully complete the 2024 plan, specifically:
The entire PV GAS gas system/works operate safely and effectively, maintaining high reliability and readiness; maintenance and repair work, good standards inspection. Last year, PV GAS completed increasing the processing capacity of Dinh Co GPP to 7 million m3 of gas/day and increasing the sendout capacity of Thi Vai LNG warehouse to 7.7 million m3 of gas/day, contributing to increasing production output/supply, and efficiency in asset use at PV GAS.
Business and market development achieved many outstanding results. PV GAS is the first enterprise to grant nearly 400 million cubic meters of LNG gas to re -import from imported LNG to provide electricity customers; Successfully implementing the integrated energy business model nationwide, contributing greatly to the operation revenue of the unit; International business activities grew high (equal to 168% compared to 2024 with a turnover of nearly 1 billion USD); Completing the plan of all production criteria, of which LPG business has set the highest record since its establishment (nearly 3.1 million tons). Completed exceeding the entire financial plan target of 50-89%, of which the highest revenue targets ever (revenue of PV GAS reached nearly 130 trillion dong).
Construction investment work has been actively implemented, closely following the progress. In 2024, the Thi Vai LPG tank, Thi Vai LNG tank filling station, and Thanh Trach 3&4 gas supply pipeline projects have been completed, contributing to the completion of the LNG import/cung supply infrastructure chain in Vietnam. In addition, the work of developing long-term strategies and plans has also been implemented in accordance with the new situation.
Issues related to negotiation and signing of gas purchase and sale contracts have achieved many positive results, doing a good job of preparing for the stages after PV GAS activities have changed compared to the previous stage.
The activities of member units have achieved many positive results. Notably, PV PIPE has started pipeline processing for the Lot B project, and business results have improved a lot with a positive EBITDA index.
In restructuring, labor and training: PV GAS has completed increasing charter capital (increasing by 2%); completed the establishment of PV GAS International Company in Singapore; completed procedures to establish PV GAS Logistics. The total number of employees of PV GAS is over 4,200, of which the parent company has over 1,400 people. Last year, the company organized over 11,000 people to participate in domestic/ foreign training courses.
PV GAS continues to be highly appreciated by reputable organizations at home and abroad: belonging to "Top 50 reputable and effective public companies in 2024"; The 12th time considering the honor of Forbes "Top 50 best listed companies in Vietnam in 2024" - Top 3 companies with revenue and Top 6 companies achieve the best profit; Top 12 enterprises leading Profit500 rankings - "Top 500 best profit enterprises in Vietnam in 2024"; continue to be honored "Vietnam National Brand"; Present in the top 100 of the list of 500 largest companies in Southeast Asia; 2nd place in VIE10 Petroleum - Energy - Electrical Group.
PV GAS confirmed that it continued to maintain the main position and proactive throughout Petrovietnam through indicators in the first 5 months of 2025, specifically: the gas production and consumption reached from 45% to 50% of the year; Business LPG reached over 1.3 million tons (international business over 0.6 million tons), equal to 69% of the plan for the whole year 2025; The consolidated revenue reached over 46.5 trillion dong, equaling 63% of the plan for the whole year 2025; Profit before tax reached over 7.4 trillion dong, equaling 112% of the year 2025 plan; The construction investment has been actively implemented, following the plan, with the disbursement value of the parent company reaching VND 842 billion, equal to 25% of the year plan of 2025. Focusing on investment: expanding projects, raising the capacity of LNG litchi warehouse to 3 million tons/year, the LNG Son My Port Warehouse Project, Ethane separating project in the late palace; Prepare investment: Project of LPG, LNG in the North/North Central; Gas project for Long An 1 and 2 Power Plant; Project to raise the capacity of Phu My - Ho Chi Minh gas pipeline; ...
After nearly 35 years of accompanying and standing side by side on the green energy journey, PV GAS has encapsulated its gratitude to leaders at all levels, partners, shareholders and laborers who have made great contributions to the prosperous development of PV GAS. PV GAS with a spirit of determination, ready to conquer new development stages in a brilliant future.
