To meet the commitments made by the Government, the Vietnam Oil and Gas Group (Petrovietnam) is making significant efforts to participate in the country’s energy transition. Two of Petrovietnam’s member units, PV GAS and PV Power, are taking the lead in providing and utilizing imported LNG for power generation to serve the country’s economic development.
PV GAS Chairman Nguyen Thanh Binh affirmed the company’s determination towards a green energy strategy.
PV Power is currently investing in several large-scale power projects utilizing LNG, including the Nhon Trach 3 and Nhon Trach 4 power plants. Additionally, PV Power is in the process of transitioning some of its natural gas-fired power plants to LNG.
With the goal of fulfilling the Government’s commitment at COP 26 to achieve Net Zero by 2050 and completing the Power Development Plan VIII, PV GAS is proactively making imported LNG the primary fuel source for gas-fired power plants in Vietnam.
PV Power Chairman Hoang Van Quang congratulated the collaboration between the two corporations.
By being ready to supply a volume of gas equivalent to a shipload of imported LNG, initially for the Nhon Trach 3 and 4 power projects, PV GAS further cements its position as a pioneer and leader in the gas industry, particularly in LNG. They are the only company capable of meeting the country’s growing demand for clean energy.
The signing ceremony marks an important step for the two corporations and Petrovietnam in their journey to make imported LNG the primary fuel source for gas-fired power plants in Vietnam, gradually replacing the rapidly declining natural gas resources in the Southeast region.
Mr. Huynh Quang Hai, Deputy General Director of PV GAS, and Mr. Nguyen Kien, Deputy General Director of PV Power, represented the two corporations in signing the contract for the “Purchase and Sale of the First Shipment of LNG for Trial Runs at Nhon Trach 3 and 4 Power Plants,” witnessed and congratulated by the leaders of both sides.
This also reaffirms the determination of the two corporations and Petrovietnam to unite their strengths and enhance coordination and cooperation to maintain their leading position in the country’s energy industry. They remain steadfast in implementing the “National Energy Development Strategy” approved by the Government.
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The ultra-wealthy population in Vietnam is witnessing a rapid surge, accompanied by a diversifying range of investment needs. Elevation Talks, a unique investment event series, is the brainchild of BIDV and Dragon Capital. This collaborative initiative serves as an intellectual hub, fostering connections and providing a platform for in-depth market insights and effective investment strategies. Modeled after the renowned investment clubs worldwide, Elevation Talks offers a space for like-minded individuals to engage, exchange ideas, and explore lucrative opportunities.
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Title: What’s in Store for the USD/VND Exchange Rate in 2025 with Trump as US President?
In recent months, the USD/VND exchange rate has surged to historic highs. Since the beginning of the year, the US dollar has appreciated by approximately 4.4% against the Vietnamese dong, amounting to a rise of 1,100 VND. Notably, in October and November alone, the VND depreciated by over 3% against the USD, marking a significant shift in currency values.
