Company's Profile

Contact Information

Name PETROVIETNAM GAS JOINT STOCK CORPORATION
Name PETROVIETNAM GAS JOINT STOCK CORPORATION
Abbr name GAS
Head Quarter PV Gas Tower, 673 Nguyen Huu Tho, Phuoc Kien commune Nha Be Ho Chi Minh
Tel +84 28 3781677
Fax +84 28 3781577
Website www.pvgas.com.vn
Industry Oil & Gas

Board of Directors

Name Current Position Shares Owned
Nguyen Sinh Khang Chairman of Management Board
Duong Manh Son Chairman of Management Board
Vu Trong Hai Chief Accountant
Nguyen Cong Luan Chief Accountant 10
Huynh Quang Hai Deputy General Director
Pham Van Phong Deputy General Director
Nguyen Thanh Nghi Deputy General Director
Nguyen Thanh Binh Deputy General Director
Pham Dang Nam Deputy General Director/Spokesman
Tran Thi Hoang Anh Head of Supervisors Board
Do Dong Nguyen Independent Member of Management Board
Truong Hong Son Member of Management Board
Trieu Quoc Tuan Member of Management Board
Vo Thi Thanh Ngoc Member of Management Board 2,000
Hoang Van Quang Member of Management Board/General Director 11,450
Nguyen Thi Kim Yen Member of Supervisors Board
Nguyen Cong Minh Member of Supervisors Board
Ho Thi Ai Thanh Member of Supervisors Board
Vu Dinh Chien Vice- chairman of the Board 379,000,000

Business Activities

Corporate History

    • 20 September 1990: Fuel Company was established under the basis of Vung Tau Petroleum Works Management Board to operate mainly in Bach Ho gas field;
    • 1995: The first gas was transported from an offshore field to inland.
    • 1996: Renamed as Gas
    • 1999: Dinh Co plant and Thi Vai port were put into operation.
    • 2006: Transformed to a company limited with one member;
    • 2007: Renamed as PetroVietnam Gas Corporation and put into operation under the model of parent company - subsidiary;
    • 2009: PV Gas was equitized.
    • 2010: PV Gas went IPO.
    • 16 May 2011: Transformed into PetroVietnam Gas Joint Stock Corporation (PV Gas) with a charter capital of VND18,950 billion;
    • 21 May 2012: Listed on Hochiminh Stock Exchange (HOSE);
    • January 2016: Increased charter capital to VND 19,139.5 billion.

Scopes of Business

    • Gathering, transporting, processing, storing, distributing and trading of gas and gas products in Vietnam. Its key products include liquidity petroleum gas (LPG), compressed natural gas (CNG),  liquefied natural gas (LNG), dry gas and consensate;
    • Investment in infrastructure, distribution system dry gas, liquid gas;
      Consumption of all LPG produced in the domestic refineries and other sources of national Petro Vietnam;
    • Providing services in gas and gas products transportation, gas operating projects, supply of steel pipe and casing pipe.

Development and Investment Strategies

    • Maintaining the leading role in the gas industry in Vietnam, to participate in the international gas market, to connecting with Trans - Asian gas pipelines and become one of the strongest gas brands in the ASEAN and Asia;
    • Maintaining its leading position in LPG supply with at least 70% of the LPG marketshare in Vietnam, including 50% of wholesale marketshare and 27% of retail marketshare;
    • Developing LPG retail distribution network in neigboring countries e.g. Laos, Cambodia;

Company's Abilities

PetroVietnam Gas Joint Stock Corporation (GAS), formerly known as Fuel Company, was established in 1990. The Corporation has its main busienss in gathering, importing, transporting, storing, processing and trading of gas and gas products. GAS is the only company that has full gas infrastructure including gas gathering systems at sources, pipeline for transportation and distribution, storage system, gas processing plant with 3 gas pipeline systems: Cuu Long, Nam Con Son in the Southeast region, PM3 in the Southwest region and two gas processing plants: Dinh Co, Nam Con Son in the Southeast region and a LPG storage system nationwide. GAS has a total capacity of 450,000 - 500,000 tons of LPG per year and 70,000 ton of condensate per year. The Corporation maintains its leading position in LPG supply with more than 70% of the LPG marketshare in Vietnam. GAS has been listed on Hochiminh Stock Exchange (HOSE) since 2012.

Company's Position

    • As a subsidiary of PetroVietnam, GAS has privileged access to all gas fields in which PetroVietnam has a stake and based in Vietnamese waters. It is the only company that has full gas infrastructure including gas gathering systems at sources, pipeline for transportation and distribution, storage system, gas processing plant.
    • GAS has a total capacity of 450,000 - 500,000 tons of LPG per year and 70,000 ton of condensate per year.
    • The Corporation maintains its leading position in LPG supply with more than 60% of the LPG marketshare in Vietnam.
    • GAS has already a wholesale network with nearly 50 domestic clients and over 10 oversea ones, and a retail network with more than 2,000 general agents/agents.

Major Projects

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  • Nam Con Son 2 gas pipeline: with capacity of VND0.6 billion m3/year and investment of USD 411.1 million. The phase 1 is under construction and scheduled for completion in 2015.
  • Block B - O Mon gas pipeline : Block B - O Mon has storage of 133 billion m2, twice as large as Nam Con Son. Currently, 100% detailed design and 30% of the foundation treatment  of O Mon Station is completed.
  • 1 MMTPA LNG storage at Thi Vai: preparing and submitting the revised bidding plan for approval, preparing the EPC bidding package and other related bidding packages. The project is scheduled for completion in 2017.
  • Ca Mau gas processing plant: completing investment in the gas compressor to increase cappacity of PM3- Ca Mau, starting operation from December, 2013.


 

Company's Prospects

    • As a member of Petrol Vietnam Group, the Corporation has a favorable condition to access all gas fields in which PetroVietnam has a stake and based in Vietnamese waters.
    • It is the only enterprise that has an intensive gas infrastructure including gas gathering systems at sources, pipeline for transportation and distribution, storage system, gas processing plant.
    • Domestic demand for natural gas and gas products is growing fast;
    • New gas fields are continuously being developed and put into production, increasing gas supply.
    • The Corporation has long experience in the gas industry with loyal customers and it can enjoy some economies of scales.

Business Risks

    • Prices of all gas products are highly correlated with oil prices, therefore significant changes in crude oil prices will impact PV Gas' bottom line.
    • Existing gas sources are located either Southeast or Southwest of the Mekong Delta but there's no pipeline network interconnecting the two regions to better manage gas flow and usages.
    • Current gas fields are scattered offshore with small reserves so that production cost and transportation cost are high.

Shareholder Structure

Owner Type Proportion Updated
Foreign Holding 2.99 08/08/2022
Others 1.25 08/08/2022
State Holding 95.76 08/08/2022

Major Shareholders

Owner Type Stakes
Vietnam Oil and Gas Group 1,832,835,900
Phan Quoc Nghia 70,000
Manulife Equity Fund 46,450
DFVN Capital Appreciation Fund 26,000
SSIAM VNX50 ETF 18,260
BVFED 9,660
Pham Hong Linh 5,000
Techcom Equity Fund
Vietnam Equities Investment Fund
VND Active Fund
VFMVN30 ETF Fund
Manulife Balanced Fund
CNG Vietnam JSC
Vietnam Blue-chips Fund
VinaWealth Equity Opportunity Fund (VEOF)
Viet Capital Balanced Fund
Vietnam Securities Investment Fund
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Subsidiaries

Company Ownership
PETRO VIETNAM SOUTHERN GAS JSC., 35.26%
PETROVIETNAM NORTHERN GAS JSC., 35.88%
PETROL VIETNAM COATING JSC 76.5%
PETROVIETNAM LOW PRESSURE GAS JSC., 50.5%
PETROVIETNAM STEEL PIPE JSC 99.99%

Affiliates

Company Ownership
PETROVIETNAM GAS CITY INVESTMENT AND DEVELOPMENT JSC., 35.51%