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CNG Vietnam deploys development strategy to 2025 and orientations to 2035

CNG Vietnam Joint Stock Company (CNG Vietnam, Stock code: CNG) has just deployed its development strategy to 2025 and vision to 2035.

Accordingly, CNG Vietnam orients to develop and expand the market, occupy the number one market share in Vietnam in terms of non-pipeline natural gas distribution and take the lead in the field of LNG/CNG distribution technology by tank trucks; Research, develop, and distribute a variety of clean energy products in form of compressed/liquid gas in line with development orientations of Vietnam Oil and Gas Group (PetroVietnam)/PetroVietnam Gas Joint Stock Corporation (PV GAS); Ensure that the Corporation’s entire production and business chain is operated smoothly; increasing benefits and value of the gas value chain in the entire Vietnam Oil and Gas Group.

The slogan and business goals of CNG Vietnam have been affirmed

In addition, CNG Vietnam orients to grow synchronously, sustainably, maintains high competitiveness, expand the market coverage nationwide, in line with the development plan of Vietnam’s gas industry and PV GAS; Provide clean fuel products, in which natural gas (LNG/CNG) is the key product, and provide package solutions to meet all key requirements of customers; Build and enhance CNG Vietnam to become the brand of a reputable, quality and popular clean gas fuel supplier.

In the period of 2021 – 2022, CNG Vietnam aims to maintain existing markets/customers and find/access new markets/customers. In the period of 2023 – 2025: Grow the current market area and supply LNG products to the market. In the period from 2025 to 2035: Maintain stable growth based on key products of LNG/CNG.

Specifically, in the period of 2022 – 2025, CNG Vietnam targets a total consumption volume of 1,200 million Sm3, total revenue of more than 13,800 billion VND. In the period 2026 – 2030, the total consumption volume is expected to double, reaching more than 2,700 million Sm3, total revenue of more than 33,400 billion VND. In the period 2031 – 2035, the total consumption volume target is more than 5,200 million Sm3, total revenue of more than 73,400 billion VND. The plan is based on the forecast Brent oil price in the above periods of 65.5 – 66.6; 67.4 – 74.8; 77 – 84.5 USD/barrel respectively, according to IS Markit forecast in July 2021; exchange rate of 23,500 VND/USD.

(Source: https://petrovietnam.petrotimes.vn)