PV Gas operates three LPG storage tanks in southern Vietnam
PV Gas, the gas arm of state-run Petrovietnam, has operated three liquefied petroleum gas (LPG) storage tanks at its terminal in the southern province of Ba Ria-Vung Tau.
The project features tanks with a capacity of 2,000 tons each and auxiliary systems to import, store, and export LPG products. The tanks were built with cutting-edge technology.
Three LPG storage tanks at the PV Gas Vung Tau terminal. Photo courtesy of Petrotimes.
The new installations are aimed at increasing PV Gas’s storage capacity and raising its competitiveness and market share amid stiffer competition from domestic and foreign peers.
PV Gas now commands around 70% of the nation’s wholesale LPG market.
The project was funded by PV Gas and managed by its unit Petrovietnam Gas Projects Management Company (PV GAS PMC). Petrovietnam Technical Services Corporation (PTSC) was the engineering, procurement, and construction (EPC) contractor.
After the installation and trial run were conducted last month, the project was handed over to PV Gas Vung Tau Company, a unit of PV Gas, on July 29.
The PV Gas Vung Tau terminal is an essential link in the Bach Ho and Nam Con Son gas chain, accounting for half the total LPG storage capacity of the country. It contributes significantly to ensuring national energy security and stabilizing the domestic LPG market.
Located in the Cai Mep Industrial Park, Phu My town, the terminal has been operational since 2000 and is Vietnam's largest LPG and condensate storage.
It is tasked to store, export, and import LPG and condensate products of the Dinh Co gas processing plant; store condensates of the Nam Con Son gas plant; and provide LPG for distribution to consumers by ships and tankers.
- Related News
- Read More
Lack of ‘compelling stories’ undermines stock market vibrancy: brokers
Vietnam’s stock market is yet to strike a “dragon vein” and lacks “compelling stories” to attract more investors, representatives of major broker houses in the country said at a talk show Friday.
Banking & Finance - Sun, September 15, 2024 | 8:58 pm GMT+7
First body found in northern Vietnam bridge collapse
The body of one of the eight missing victims in Phong Chau bridge collapse that occurred on September 9 in Phu Tho province, northern Vietnam was found on Saturday afternoon.
Society - Sun, September 15, 2024 | 3:00 pm GMT+7
Vietnam industrial park developer Becamex IJC to pay $10.8 mln in 2023 dividends
Becamex IJC, a leading urban and industrial park developer in Vietnam, plans to pay 2023 cash dividends to shareholders at a rate of 7% this December.
Companies - Sun, September 15, 2024 | 2:04 pm GMT+7
Investors likely required to complete 4 wharves of HCMC’s $5.5 bln Can Gio port in 5 years
Investors should complete four out of seven main wharves of the $5.5 billion Can Gio "super" port in Ho Chi Minh City within five years, said Deputy Prime Minister Tran Hong Ha.
Infrastructure - Sun, September 15, 2024 | 9:23 am GMT+7
Credit institutions in Vietnam boast total assets of over $858 bln
Total assets of the credit institutions in Vietnam had reached over VND21,070 trillion ($858.4 billion) as of June 30, 2024, up 4.97% from the end of 2023, according to the Vietnam Bankers Association.
Banking - Sun, September 15, 2024 | 8:13 am GMT+7
Three provincial officials charged with illegally refunding VAT for solar power project
Three officials from Binh Phuoc province's Tax Department in southern Vietnam have been investigated for “showing a lack of responsibility, causing serious consequences” in a case involving a value added tax (VAT) refund to Loc Ninh 3 Energy JSC.
Society - Sat, September 14, 2024 | 11:23 pm GMT+7
Vietnam’s sluggish LNG-fired power projects can be expedited only under nation’s legal framework: Minister
Vietnam is striving to speed up progress on two sluggish LNG-fired power projects – Son My 1 and Son My 2 – but this has to happen within the nation’s legal framework, says Minister of Industry and Trade Nguyen Hong Dien.
Energy - Sat, September 14, 2024 | 11:07 pm GMT+7
Uniqlo to open first store in central Vietnam next year
Japanese clothing brand Uniqlo will open its first store in Vietnam’s central region in 2025, at the Aeon Mall Hue in Thua Thien Hue province.
Companies - Sat, September 14, 2024 | 7:00 pm GMT+7
From Mozambique to Vietnam: A journey to wisdom
A young Mozambican student, Oraiden Manuel Sabonete, is making waves with a rich tapestry of languages and a deep-seated passion for cultural immersion after nearly five years studying in Hanoi.
Travel - Sat, September 14, 2024 | 3:43 pm GMT+7
PV Gas supplies rail-transported LNG to first customer in northern Vietnam
Vietnam CNG JSC (PV Gas CNG), a subsidiary of PV Gas, has completed the delivery of liquefied natural gas (LNG) transported by rail from the south to its first customer in northern Vietnam.
Companies - Sat, September 14, 2024 | 3:26 pm GMT+7
Thailand’s Central Retail opens $13 mln mall in Ha Nam province, 40th in Vietnam
Thailand’s leading retailer Central Retail opened a mall under its GO! brand in the northern province of Ha Nam on Saturday, its 40th facility in Vietnam.
Industries - Sat, September 14, 2024 | 3:10 pm GMT+7
Airport Construction Corp-led consortium wins $260 mln Long Thanh airport bidding package
A consortium led by state-controlled Airport Construction Corporation (ACC) has won a VND6.37 trillion ($260 million) bidding package for construction of and equipment installation for aprons at the Long Thanh International Airport in the southern province of Dong Nai.
Infrastructure - Sat, September 14, 2024 | 2:18 pm GMT+7
Vietnam auto sales up 2% to 188,997 units in Jan-Aug
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 188,997 units in the first eight months of 2024, up 2% year-on-year.
Companies - Sat, September 14, 2024 | 10:44 am GMT+7
Nearly 20% of Malaysia’s population classified as obese
Obesity is one of the most pressing health concerns in Malaysia, with nearly 20% of its population classified as obese.
Southeast Asia - Sat, September 14, 2024 | 10:38 am GMT+7
Thai rice prices hit one-year low
Thai rice prices fell to their lowest in over a year as bidders were forced to reduce their high prices in a recent auction held by Indonesia, while Indian rice export prices extended losses this week to hit an eight-month low.
Southeast Asia - Sat, September 14, 2024 | 10:36 am GMT+7
Cambodia focuses on promoting cashew exports
By exporting more than 830,000 tonnes of raw cashew in the first seven months of this year, Cambodia has become the world's second largest exporter of the nut.
Southeast Asia - Sat, September 14, 2024 | 10:23 am GMT+7
