Three LPG storage tanks put into operation at PV GAS Vũng Tàu Terminal

August 05, 2024 - 14:41

In July, the project completed installation, successful pre-commissioning, and commissioning. It was handed over to PV GAS Vũng Tàu, a subsidiary of PV GAS, for operational management.

A liquefied gas storage tank at the PV GAS Vũng Tàu terminal. — VNA/VNS Photo

HÀ NỘI — Vietnam Gas Corporation (PV GAS) has completed the EPC (Engineering, Procurement, and Construction) work and commenced operations of three LPG storage tanks at PV GAS Vũng Tàu Terminal.

The project, with PV GAS as the investor, was managed by PV GAS Project Management Company (PV GAS PMC), a subsidiary of PV GAS, with Vietnam Petroleum Technical Services Corporation (PTSC) serving as the EPC contractor.

In July, the project completed installation, pre-commissioning and commissioning. It was handed over to PV GAS Vũng Tàu, a subsidiary of PV GAS, for operation management from 29 July.

PV GAS Vũng Tàu Terminal is a crucial link in the continuous operation of the Bạch Hổ and Nam Côn Sơn gas systems, with a storage capacity equivalent to 50 per cent of the total LPG storage capacity in the country. This facility plays an essential role in ensuring national energy security and stabilising the domestic LPG market.

Located in the Cái Mép Industrial Zone, Phú Mỹ Town, Bà Rịa – Vũng Tàu Province, the terminal has been in operation since 2000. It is the largest LPG and condensate storage facility in Việt Nam, tasked with storing, importing and exporting LPG and condensate products from the Dinh Cố Gas Processing Plant, Nam Côn Sơn Gas Plant and imported LPG for ships and tankers, supplying various consumers.

PV GAS invested in the LPG Storage Tank Project at PV GAS Vũng Tàu Terminal to increase storage capacity, improve operational efficiency, ensure operational flexibility, meet production and business requirements and enhance competitiveness in the increasingly fierce LPG business environment with many domestic and international competitors.

The project comprises three LPG storage tanks, each with a capacity of 2,000 tonnes, along with technology and auxiliary systems to meet PV GAS's requirements for importing, storing and exporting LPG products. The facility uses spherical tank technology, currently the most optimal for storing and handling LPG. — VNS

RoK's firm penetrates LPG market in Việt Nam

E1, an importer and distributor of liquefied petroleum gas (LPG) under the Republic of Korea’s LS Group. announced on Wednesday that it has signed a joint contract with Venus Gas, the largest LPG importer in northern Việt Nam, to build an LPG terminal in Bắc Tiền Phong industrial complex in Việt Nam's northern coastal province of Quảng Ninh.

Economy

PV GAS cooperates with JCCP Japan on the LPG distribution system

The signing marked an important step in strengthening cooperation between PV Gas and its partners to improve the company’s management capacity and advance its position in the LPG market.

Economy

New decree to be developed to facilitate LPG business

The lack of regulations has made it difficult for authorities to clarify obligations in cases where LPG cylinders do not meet requirements for safety, fire prevention, and quality, or accountabilities when leaks or gas explosions occurred.

Economy

PVGAS Trading imports 30 tonnes of refrigerated LPG

PetroVietnam Gas Trading Co (PVGAS Trading) on February 7 completed the pipe connection, importing the first ship of refrigerated LPG for floating storage on the first working day after the Tết (Lunar New Year) holiday.

Economy

Southeast Asia’s largest LPG underground storage facility to soon operate

A US$1.35 billion underground storage facility for liquefied petroleum gas (LPG), the largest of its kind in Southeast Asia with a huge storage capacity of 240,000 tonnes, is expected to soon become operational in the Mekong Delta province of Bà Rịa – Vũng Tàu.

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Authority expands global network for aviation sector growth

The international flight network has restored to pre-COVID-19 levels and continued to expand to new markets in Central Asia, India, and Australia.

Economy

Load dispatch centre to be transferred from EVN to MoIT

Starting in August, the National Load Dispatch Centre (A0) will separate from Vietnam Electricity to form the National Power System and Market Operation Limited Liability Company (NSMO) under the Commission for the Management of State Capital at Enterprises (CMSC).

Economy

New foreign ownership restrictions in Vietnamese property market

For apartment complexes with multiple blocks sharing a common base, foreign ownership is capped at 30 per cent of the units in each block.

Economy

Anti-dumping questionnaire for MSG products issued

The deadline for responding to the investigation questionnaire is before 5pm on September 10 (local time).

Economy

Việt Nam selected as partner country of IHE 2024

Việt Nam was selected as partner country of the India International Hospitality Expo (IHE 2024) at the opening ceremony on Saturday in Noida, Utta Pradesh state.

Economy

PVI Insurance secures top honours in prestigious awards

PVI Insurance continues to shine in prestigious awards, affirming its position as a market leader in Việt Nam's non-life insurance sector.

Economy

Sacombank high rankings in reputable, effective, sustainable development lists

Sacombank was named among the Top 50 Reputable and Effective Public Companies and Top 10 Prestigious Vietnamese Private Joint Stock Banks in 2024 by Vietnam Report Joint Stock Company on August 2.

Economy

Việt Nam manufacturing sustains strong growth in July

New orders increased for the fourth month running in July, with the rate of expansion only slightly slower than the near record posted in June.

Economy

The market requires a prolonged period to reach stability.

The stock market experienced significant volatility during the transitional trading week between July and August (from 29 July to 2 August). The final three sessions of July saw a recovery to approximately 1,255 points; however, there was a sudden sell-off during the first trading session of August 2024.