On the afternoon of November 11, 2024, at PVFCCo headquarters, the leadership of PVFCCo and PV GAS held a meeting to discuss key issues related to gas supply, sources, and pricing for 2024 and plans for the 2025 gas purchase agreement. Notably, the two parties signed a “Cooperation Agreement,” formalizing a long-term collaboration on terms discussed and agreed upon by both parties’ leadership.
Attending on behalf of PVFCCo were Mr. Nguyễn Xuân Hòa, Chairman of the Board of Directors; Mr. Phan Công Thành, President & CEO; and members of the Board of Directors, Executive Board, and relevant functional departments. Representing PV GAS were Mr. Nguyễn Thanh Bình, Chairman of the Board of Directors; Mr. Phạm Văn Phong, President & CEO; along with Board members, Executive Board members, and relevant department representatives from PV GAS.
The PVFCCo leadership highlighted that since its founding, PVFCCo and PV GAS have shared a common goal of sustainable development, contributing added value to the oil and gas industry and the national economy. PV GAS, with its mission of securing natural gas supplies, and PVFCCo, a leader in fertilizer and chemical production, have worked harmoniously to harness gas resources for essential agricultural products, thereby supporting national food security.
Over more than 20 years of collaboration, PVFCCo and PV GAS have achieved notable accomplishments. Effective gas supply contracts have ensured stable resources for PVFCCo’s plants, solidifying the brand’s position in the fertilizer and chemical industries, boosting competitiveness, and delivering value to customers.
PV GAS leadership expressed that the collaboration between the two parties is a synergistic partnership beyond a simple vendor-client relationship; it reflects a brotherhood under the Petrovietnam umbrella. Given the challenges posed by declining domestic gas resources, both sides must strengthen their cooperation to seek solutions for stable development in the future.
PV GAS emphasized that the partnership will be based on long-term, effective collaboration, balancing mutual benefits for sustained growth.
During the meeting, both parties discussed issues related to gas supply and pricing, solutions for gas resources and pricing for 2024 and 2025, and future opportunities. They also explored ways to leverage their strengths for collaborative growth.
PVFCCo and PV GAS representatives signed the cooperation agreement following the discussions, marking a new step forward. This agreement underscores both parties’ commitment to strengthening ties and creating a synergy that supports sustainable growth.
The cooperation agreement is expected to open up new opportunities for both parties, including the efficient domestic supply and consumption of gas, exploration of suitable LNG imports for fertilizer and chemical production, chemical product import and distribution within the domestic market, and strengthening collaborative efforts to leverage each party’s capabilities. This aims to secure a long-term gas supply for fertilizer and chemical production, expand market reach, boost competitiveness, and enhance integration within the oil and gas value chains.
PVFCCo and PV GAS leadership anticipate that following the agreement signing, both parties will facilitate the effective implementation of cooperative initiatives to achieve concrete results as soon as possible.
