PV GAS aims for annual growth of 10 percent from 2022

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PetroVietnam Gas Corporation (PV GAS) should make efforts to achieve the target of annual growth of 10 percent in 2022 and following years, General Director of the Vietnam National Oil and Gas Group (PetroVietnam) Le Manh Hung has said.

Speaking at a ceremony on February 9 to launch this year’s tasks of PV GAS, a subsidiary of PetroVietnam, Hung requested the company to pay special attention to risk management and improving its governance capacity.

Recognising PV GAS’ contributions to the group and the national gas industry, Hung noted that last year, over 20 percent of revenue, 25 percent of profit and 8 percent of the State budget payment of PetroVietnam were contributed by PV GAS – one of the three key business pillars of the group.

Hung held that the global energy transformation trend and the re-shaping of the power supply order in the world will pose challenges and risks to the sector, asking PV GAS to focus on managing fluctuations and risks.

According to PV GAS Chairman Duong Manh Son, in 2021, despite impacts from the COVID-19 pandemic, last year, PV GAS earned the highest ever revenue, raking over 80 trillion VND (3.52 billion USD).

The firm also showed strong performance in Party building and improving the capacity of its leaders, he said, adding that the success in 2021 laid a foundation for PV GAS to complete its tasks in 2022.