Founded on 28 May 2007, CNG Vietnam Joint Stock Company specializes in manufacturing, transporting and distributing Compressed Natural Gas (CNG) to provide for factories that use heat energy in the production, processing and for residential apartments, and to be used as alternative fuel in the transportation industry.
In 2022, CNG Vietnam has faced many difficulties and challenges in the context of the post-Covid-19 pandemic, the world’s economic and political turmoil, and the decline in the supply of CNG gas supplied to the Northern market. However, with the attention and support from the Corporation, along with the efforts and determination of the Board of Directors and employees, CNG Vietnam has successfully completed the tasks assigned by the Corporation.
Pioneer in transforming the clean fuel industry in vietnam.
Popularizing clean energy, contributing to creating a green future, bringing sustainable values to the community and society.
Inheriting the achievements of more than 15 years of establishment and development, CNG Vietnam has really affirmed its important role in Vietnamese gas industry.
15 years of establishment of the Company (2007 - 2022)
After 15 years of operation, CNG Vietnam has achieved proud results: Total gas output is estimated at 315 million Sm3, an increase of 15% compared to 2021. Revenue is about VND 4,200 billion, up 36.8% compared to 2021. CNG market share accounted for 74% of the whole country.
Overcoming several difficulties and challenges in the year of 2021, CNG Vietnam promptly adjusted its business strategy to respond to the epidemic while successfully completed the production and business targets set by General Meeting of Shareholders with a total CNG consumption volume of 274.31 million Sm3, reaching 113% of the plan, revenue from gas sales of VND 2,337.9 billion, achieving 129% of the plan.
The Company completed the purchase of CNG system in the North. Despite a year of unprecedented difficulties such as the Covid-19 pandemic, plunged oil prices, the Company’s total revenue was recorded at 2,351.1 billion VND to reach 105% of the plan, and profit after tax reached 51 billion VND, 6% higher than the annual plan.
Gas consumption volume amounted to 192.16 million Sm3, exceeded 23% of the business plan, and 17% higher than the previous year. Total revenue in 2019 was recorded at 2,146.74 billion VND, exceeded 23% of the plan, in which revenue from main business activities (CNG) reached 2,130.39 billion VND, 22% higher than the plan. Profit before tax was 107.6 billion VND, and profit after tax reached 84.4 billion VND, respectively equivalent to 102% and 100% of the annual plan.
Restructured and rearranged the organizational structure of the Company’s office. Customer portfolio continued to grow sharply. Shareholders’ equity reached 537 billion VND, increased by 11.8% compared to the previous year.
The number of customers and gas consumption volume increased significantly. Revenue and profit both exceeded 35-40% of the plan.
On 14/03/2016, PVGas became a major shareholder of CNG Vietnam with a holding rate of 56% charter capital after purchasing the whole shares from PVGas South.
The year 2015 recognized the success of CNG’s strategy to expand into Northern region. CNG Vietnam officially supplied gas in this region, bringing the total CNG consumption volume to approximately 94.3 million Sm3, saw a strong growth of 26% compared to 2014.
On 08/07/2014, CNG Vietnam approved the Regulations on organization and operation of the Company’s Northern Branch.
On 25/09/2013, State Securities Commission of Vietnam approved the additional issue of shares to increase the Company’s charter capital from 213.28 billion VND to 270 billion VND.
In accordance with GMS’s 2011 resolution on issuing shares for employees at the rate of 5% of charter capital (ESOP 2011), the BOD issued Resolution No. 01/NQ- HDQT/2012 to approve the share distribution under ESOP 2011 and completed the capital increase of 5% to 213.28 billion VND.
From March 2011, after the compressing stations fully went into operation, CNG Vietnam’s total capacity officially reached 70 million Sm3 which supplied CNG for 21 customers in Nhon Trach, Binh Duong, Ho Chi Minh City and Long An.
In 2010, in order to invest in operational expansion projects, CNG Vietnam issued 5,780,000 shares to increase the charter capital from 67.2 billion VND to 125 billion VND for existing shareholders, key staffs and strategic shareholders in accordance with GMS’s Resolution No. 314/NQ - DHCD/2010 dated 02/04/2010.
In 2009, PVGas agreed to transfer the whole capital stake in CNG Vietnam to PVGas South. CNG Vietnam continued to expand the CNG distribution market...
CNG Vietnam’s first plant was located in Phu My 1 Industrial Park, Ba Ria - Vung Tau Province with an initial capacity of 30 million Sm3 per year (equivalent to 33,000 tons of LPG per year), put into operation on 03/09/2008.
CNG Vietnam Joint Stock Company was established on 28/5/2007 in accordance with Investment Certificate No. 492032000040 issued by the Industrial Park Management Agency of Ba Ria - Vung Tau Province with initial charter capital of 19.2 billion VND from the founding shareholders: Drilling Mud JSC (DMC) (51% charter capital), IEV Energy Sdn. Bhd. (Malaysia) (42% charter capital) and Son Anh Co., Ltd (7% charter capital).