Signing “LPG supply cooperation agreement” and “LNG supply framework contract” between PV GAS’ units

On 26 March 2021, within the framework of Conference on the work of PetroVietnam Gas Corporation’s officers and representatives in other enterprises, PV GAS’ units including PV GAS TRADING, PV GAS LNG, PV GAS D and CNG VIETNAM held the Signing Ceremony of "LPG supply cooperation agreement" and "LNG supply framework contract".

Attending and witnessing the Signing Ceremony, on the side of Vietnam Oil and Gas Group (PVN), there was Mr. Phan Anh Minh - Head of the Organization and Human Resource Management Department. On the side of PV GAS, there was Mr. Nguyen Sinh Khang - Chairman of the Board of Directors; Mr. Duong Manh Son - General Director, and members of the Board of Directors, Board of Management and representatives of specialized departments and units of PV GAS.

Signing ceremony of "LNG supply framework contract"

Signing ceremony of "LPG supply cooperation agreement"

The signing ceremony was an important event, in line with PV GAS' strategy and orientation on business and market development in the coming years.

  • The “LPG supply cooperation agreement” between PV GAS TRADING (Gas Trading Company), PV GAS D (PetroVietnam Low Pressure Gas Distribution Joint Stock Company) and CNG VIETNAM (CNG Vietnam Joint Stock Company) has a term of 3 years. In which, PV GAS TRADING is the LPG supplier through PV GAS D/CNG VIETNAM when PV GAS D/CNG VIETNAM's customers use LPG as alternative fuels.
  • The “LNG supply framework contract” between PV GAS LNG, PV GAS D and CNG VIETNAM has a term of 10 years. Accordingly, PV GAS LNG is the only LNG supplier for PV GAS D and CNG VIETNAM.

Signing ceremony of “LNG supply framework contract”

The signing of "LNG supply framework contract" between PV GAS LNG, PV GAS D and CNG VIETNAM marked a step in transforming the business model from consuming domestic gas to imported LNG. The signing of the LNG supply framework contract would create conditions for the Corporation and its units to develop advantages in terms of existing customer base, strengthen close coordination with units, effectively transform business model to expand market share and maximize consumption of imported LNG; promote an active role in the formulation and implementation of business plans to best meet the needs of customers as well as maximize the benefits and resources of the Corporation and its units.

Signing ceremony of “LPG supply cooperation agreement”

The signing of "LPG supply cooperation agreement" between PV GAS TRADING, PV GAS D and CNG VIETNAM would take advantage of the markets and customer network of member units under the Corporation in the supply of gas sources and energy solutions.

Directing speech of the Corporation

Speaking at the signing ceremony, Mr. Pham Van Phong - Deputy General Director of PV GAS acknowledged and highly appreciated the efforts and spirit of cooperation between the units: PV GAS TRADING, PV GAS LNG, PV GAS D and CNG VIETNAM. The signing of " LPG supply cooperation agreement" and the "LNG supply framework agreement" was an important premise for PV GAS to optimize the gas supply value chain and promote absolute advantages in the supply of gas products, step by step building a business strategy for gas and gas products in a scientific, advanced and competitive manner and meeting the trend of the world’s oil and gas industry. With the motto: "Going together will go further", the signing ceremony once again affirmed that cooperation was strength, creating new achievements and developments on the basis of in-depth and practical coordination.

Directing speech of Deputy General Director Pham Van Phong

The Corporation also required the units to continue to make efforts and improve the spirit of cooperation to successfully implement the business plan. At the same time, each unit needs to work with related parties (suppliers, distributors, industrial consumers) to solve problems in a synchronous and transparent manner based on market principles, ensuring maximum output of imported LPG and LNG, improving PVGAS’ competitiveness compared to other competitors in the market.

Representatives of PV GAS TRADING, PV GAS LNG, PV GAS D and CNG VIETNAM units performed the signing ceremony in the witness of leaders of PVN and PV GAS. The signing ceremony was successful in a solemn and united atmosphere, promising a future of good cooperation in PV GAS and coordination with units in the industry, domestic and foreign partners.

LNG supply, LPG supply