PV Gas plans over $3.8 bln investment for 2026-2030, eyes LNG infrastructure, M&A as priorities

PV Gas, the investor of Thi Vai LNG terminal in Ho Chi Minh City, plans to invest more than VND100 trillion ($3.8 billion) in the 2026-2030 period, with LNG infrastructure and mergers and acquisitions (M&A) among its strategic priorities, said parent company Petrovietnam.

The corporation said the investment plan follows a strategy of building infrastructure ahead of demand and using capital spending as the foundation for long-term business growth.

In 2025, PV Gas was assigned 12 projects with planned disbursements of more than VND3.3 trillion. Actual disbursements reached VND3.4 trillion ($129.3 million), equivalent to 103% of the year's plan, according to a release posted on Petrovietnam's website on Friday.

Major projects under implementation include the expansion of the Thi Vai LNG terminal to a capacity of 3 million tones per year, the Son My LNG import terminal, LNG terminals in northern and north-central Vietnam, the PV Gas-Hai Phong LNG port, the Dinh Co ethane separation project, gas supply projects for the Long An 1 and 2 power plants, and upgrades to the Phu My-Ho Chi Minh City gas pipeline.

Other projects include gas gathering and transportation pipelines from the Su Tu Trang and Tuna fields, as well as studies to expand the PV Gas Vung Tau port, small-scale hydrogen production, cooling and heating supply solutions for customers, and LNG supply options for Vietnam’s southwest region via floating storage and regasification units (FSRUs).

PV Gas is also working with Petrovietnam and domestic and foreign partners on joint investment and value-chain linkages, including national strategic energy projects, hydrogen blending with natural gas and the use of existing gas infrastructure for transport and distribution, the company said.

Starting in 2026, PV Gas plans to accelerate key projects, with planned construction investment disbursements of more than VND9 trillion ($342.3 million), seen as a stepping stone toward the broader 2026-2030 investment program.

“LNG infrastructure is one of our top investment priorities amid the energy transition and the decline of domestic gas supply, while new gas sources cannot be brought online in the short term,” PV Gas CEO Pham Van Phong said.

Expanding LNG supply is essential to ensure energy security and support Vietnam’s goal of achieving net-zero emissions by 2050, he added.

Alongside infrastructure development, PV Gas plans to actively seek upstream and downstream investment opportunities, pursue M&A deals, and strengthen the application of science and technology to optimize corporate value. PV Gas is committed to further strengthening its energy industry infrastructure, creating momentum for long-term growth, the company said.

PV Gas chairman Nguyen Thanh Binh said the company is entering a phase of rapid growth in both scale and quality, with revenue and profit nearly doubling over the past five years despite a challenging operating environment.

“In the next five-year period, particularly from the pivotal year of 2026, PV Gas will strongly implement its strategy, placing operations at the center, investment as the foundation and market expansion as the growth driver,” he said, aiming to deepen participation across the entire gas and LNG value chain from upstream to downstream.

In 2025, PV Gas posted record high results in its 35-year history, with consolidated revenue reaching a record VND134 trillion ($5.1 billion), up 27% from 2024. Pre-tax profit was estimated at nearly VND15 trillion ($570.5 million), up 14% year-on-year, while contributions to the state budget exceeded VND7.8 trillion, the company said.