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.

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.