PVTRANS establishes PV Gas Shipping Co.

On December 05, 2007, PVTRANS, PetroVietnam Gas Company Limited (PV Gas) and Petroleum Technical Services Corporation (PTSC) organized a Founding Shareholders Meeting for establishing PV Gas Shipping Company (Commercial name: PV Gas Shipping Co.), a subsidiary of PVTRANS.

PV Gas Shipping Co. has VND300 billion charter capital, in which founding shareholders held 82% including 35% of PVTRANS, 32% of PTSC and 15% of PV Gas. The company will complete its business registration in December 2007 and officially start working from 01 January 2008 by managing and operating 03 LPG carriers (Hong Ha Gas, Cuu Long Gas and Viet Gas) transferred from PTSC and PV Gas.

In 2008-2009, the company will continue purchasing 03 to 04 LPG carriers to transport liquefied gas for Dinh Co Factory, Dzung Quat Refinery and gradually take part in LPG transportation market, domestically and regionally.

According to its development strategy, besides transporting LPG, PV Gas Shipping Co. is going to transport other gas products such as LNG, CNG…etc.