Business

Petrovietnam facilitates production, trading of gas products

The Vietnam Oil and Gas Group (Petrovietnam) is taking measures to create favourable conditions for production and trading of gas products in the remaining months of 2022, given negative impacts of the world energy crisis on the consumption demand for liquefied petroleum gas (LPG), and liquefied natural gas (LNG).
Petrovietnam facilitates production, trading of gas products ảnh 1Workers carry out maintenance at the Dinh Co gas factory. (Photo: PV GAS)
Hanoi (VNA) – The Vietnam Oil and Gas Group(Petrovietnam) is taking measures to create favourable conditions for productionand trading of gas products in the remaining months of 2022, given negativeimpacts of the world energy crisis on the consumption demand for liquefiedpetroleum gas (LPG), and liquefied natural gas (LNG).

Specifically, businesses will have to face a risk of rapidand high LPG price fluctuations that can reduce the competitiveness of thiskind of gas with alternative fuels.

For the LNG business, Hoang Viet Dung, Deputy Director of PV GAS Trading – an affiliateof the Petrovietnam Gas Joint Stock Corporation (PV GAS), said that PV GAS plansto start implementing business activities from the end of 2022 after completingthe Thi Vai LNG Warehouse project.

He stressed the need to supplement mechanisms and policiesto ensure that LNG business management suits the situation, andcarry out effective business solutions and strategic orientations to bring intoplay strengths of the group’s subsidiaries.

Petrovietnam Deputy General Director Le Xuan Huyen hailed contributions made by PVGAS and the Binh Son Refining and Petrochemical Joint Stock Company (BSR) to the group’s fulfilment of common targets.

He asked the units to actively study the market and promptlygrasp opportunities opened up during Vietnam’s energy transition process./.
VNA
#Vietnam Oil and Gas Group#Petrovietnam#gas products#liquefied petroleum gas#liquefied natural gas#PV GAS#BSR#Thi Vai LNG Warehouse#updated Vietnam news#Vietnamplus#Vietnam News Agency
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