PV Gas and Its Ambitious Plans for LNG Infrastructure in Vietnam
Author: Bach Quang
Date: Saturday, December 27, 2025 | 10:32 am GMT+7
In a significant announcement, PV Gas, the driving force behind the Thi Vai LNG terminal located in Ho Chi Minh City, has revealed plans to invest over VND 100 trillion (approximately $3.8 billion) during the 2026-2030 period. This investment underscores the company’s strategic focus on enhancing LNG infrastructure and pursuing mergers and acquisitions (M&A) to bolster its market positioning, as detailed by its parent company, Petrovietnam.
Investment Strategy and Infrastructure Development
The foundation of PV Gas’s investment approach is centered on proactive infrastructure development, aimed at meeting future demand. This strategy highlights the understanding that capital expenditure is critical to fostering sustainable business growth. The corporation emphasizes the importance of building capacities ahead of demand, ensuring that the energy infrastructure can support Vietnam’s increasing energy needs.
Achievements and Project Implementation in 2025
In 2025 alone, PV Gas was tasked with implementing 12 significant projects, with planned expenditures exceeding VND 3.3 trillion. Impressively, actual disbursements surpassed this projection, reaching VND 3.4 trillion ($129.3 million), achieving 103% of the goal. Key projects currently in progress include the expansion of the Thi Vai LNG terminal, increasing its capacity to 3 million tons annually and enhancing the capabilities of various LNG import facilities across Vietnam.
A Wide Scope of Ongoing Projects
PV Gas is not merely focusing on existing facilities but is expanding its horizons to several major projects. These include the development of an LNG terminal at Son My, new terminals in northern and north-central Vietnam, the PV Gas-Hai Phong LNG port, and the Dinh Co ethane separation project. Furthermore, gas supply initiatives for critical power plants and extensive upgrades to the Phu My-Ho Chi Minh City gas pipeline are essential components of their comprehensive plan.
Innovative Approaches and Future Endeavors
Investments will also target pivotal areas such as gas gathering pipelines from both the Su Tu Trang and Tuna fields. PV Gas is diving into innovative solutions, exploring the potential for small-scale hydrogen production and establishing cooling and heating supply options for various customers. There is also an emphasis on providing LNG supply solutions for the southwest region of Vietnam via floating storage and regasification units (FSRUs).
Joint Ventures and Collaborations
In a bid to strengthen Vietnam’s energy landscape, PV Gas is actively collaborating with Petrovietnam and both domestic and international partners. This includes exploring joint investment opportunities and enhancing value-chain connections. Key projects may also focus on national strategic energy initiatives, such as hydrogen blending with natural gas, showcasing a holistic approach to energy management in the country.
Focus on Key Projects Post-2026
Beginning in 2026, PV Gas’s ambition is to ramp up investment in crucial projects, aiming for more than VND 9 trillion ($342.3 million) in construction investments. This effort is viewed as an important leap towards fulfilling the overarching investment strategy for the 2026-2030 period.
Emphasis on Energy Transition and Security
With the ongoing energy transition and the gradual decline in domestic gas supplies, PV Gas CEO Pham Van Phong highlights LNG infrastructure as a priority. Expanding LNG supply is deemed essential for ensuring energy security and aligning with Vietnam’s goals of achieving net-zero emissions by 2050.
Commitment to Growth and Modernization
Beyond infrastructure, PV Gas is also committed to pursuing M&A deals and integrating advanced technologies to enhance corporate value. The company is in a crucial phase of growth, with its revenue and profit nearly doubling over the past five years, demonstrating resilience even in challenging environments.
Remarkable Financial Performance in 2025
PV Gas reported remarkable financial performance in 2025, achieving consolidated revenues of VND 134 trillion ($5.1 billion)—a 27% increase from 2024. The pre-tax profit soared to nearly VND 15 trillion ($570.5 million), marking a 14% growth year-on-year, while contributions to the state budget exceeded VND 7.8 trillion, showcasing the company’s strong economic impact.
Strategic Goals for Future Expansion
Looking ahead, PV Gas chairman Nguyen Thanh Binh emphasized the company’s commitment to scaling operations and enhancing quality. The period leading up to 2026 is framed as a pivotal moment for the company to deepen its engagement within the entire energy value chain—from upstream activities to downstream distribution.
This strategic foresight positions PV Gas not only as a leader in Vietnam’s energy sector but also contributes significantly to the nation’s energy security and sustainable development goals, laying the groundwork for substantial advancements in the LNG market in the years to come.
Through these initiatives, PV Gas is poised to redefine the energy landscape in Vietnam, ensuring a sustainable and secure future for its citizens, while navigating the complexities of the global energy transition.