PV Gas expands strategic partnerships with leading Southeast Asian energy firms

PV Gas, a subsidiary of state-owned Petrovietnam, has signed cooperation agreements with leading regional energy companies, including Thailand's PTT Public Company Limited and the Philippines's Petron Corporation, as the firm seeks to strengthen its position in Southeast Asia's LNG and LPG markets.

The agreements expand PV Gas's network of strategic partners across ASEAN and lay the groundwork for closer integration of regional LNG and LPG supply chains, enhancing competitiveness, and supporting energy security amid a rapidly evolving regional energy landscape.

Partnership with Thailand's PTT

On May 28, during the Vietnam-Thailand Business Forum 2026 in Bangkok, witnessed by senior leaders of both countries, PV Gas and PTT signed a cooperation deal to expand collaboration in LPG, LNG and natural gas.

PV Gas's Party chief and chairman Nguyen Thanh Binh (first, right) and deputy general director Nguyen Phuc Tue (second, right) pose for a photo with PTT representatives, May 28, 2026. Photo courtesy of PV Gas.

PTT is Thailand's national energy company and operates an integrated oil and gas value chain spanning upstream, midstream and downstream activities. The group plays a central role in Thailand's gas and LNG infrastructure and is widely regarded as one of Southeast Asia's most influential energy companies.

Under the agreement, the two companies will strengthen market information sharing and jointly explore business opportunities in Vietnam and Thailand's LPG, LNG and natural gas sectors.

Areas of cooperation include LNG and LPG supply through spot and long-term contracts, emergency supply support mechanisms, joint procurement initiatives, and coordinated shipping arrangements aimed at optimizing logistics efficiency.

Beyond commercial activities, PV Gas and PTT will explore cooperation in LNG infrastructure operations, maintenance and development, while sharing expertise in energy risk management, price hedging instruments, and optimization of gas trading activities.

The partnership is expected to provide PV Gas with deeper access to Thailand's mature LNG and natural gas ecosystem and enhance regional supply connectivity, supporting the company's long-term LNG and natural gas development strategy.

Expanding LPG cooperation with the Philippines's Petron

On June 1, during the Vietnam-Philippines Business Forum 2026 in Manila, PV Gas and Petron signed a cooperation agreement to jointly study, develop and implement commercial opportunities in the LPG sector.

PV Gas's Party chief and chairman Nguyen Thanh Binh (middle) and other company staff pose for a photo with PTT representatives, June 1, 2026. Photo courtesy of PV Gas.

Petron is the largest downstream energy company in the Philippines, holding leading market positions in both gasoline and LPG distribution. The company operates extensive infrastructure, including a refinery, storage terminals, marine logistics assets and thousands of retail outlets across the Philippines and Malaysia.

The agreement focuses on three main areas of cooperation. The first involves optimizing LPG supply and trading activities through the development of spot and long-term transactions for propane, butane and mixed LPG products, as well as establishing supply-support mechanisms during periods of market disruption or unexpected shortages.

The two companies will also evaluate cooperation models for the utilization of LPG infrastructure, including terminals, storage facilities, jetties and shipping fleets, with the aim of improving supply-chain efficiency between Vietnam and the Philippines.

In addition, the partners will exchange market intelligence, regulatory information and supply-demand forecasts to strengthen strategic planning capabilities.

For PV Gas, the partnership with Petron is expected to broaden its LPG partner network across Southeast Asia, improve utilization of regional shipping routes, increase flexibility in cargo allocation, and reinforce its position within the regional LPG supply chain.

Strengthening regional integration

In addition to the agreements with PTT and Petron, PV Gas joined a delegation led by Vietnam's Ministry of Industry and Trade and Petrovietnam in meetings with Vitol Asia Pte. Ltd. in Singapore and the Asian Development Bank (ADB) in the Philippines.

Leaders of Petrovietnam and ADB. Photo courtesy of PV Gas.

PV Gas said its participation in cooperation initiatives with leading regional energy, trading and financial institutions during the ASEAN tour underscores its proactive approach to regional integration and growth.

The company is steadily increasing its presence across the regional energy value chain, expanding cooperation opportunities, diversifying resources, and enhancing competitiveness.

These efforts are expected to support PV Gas's long-term sustainable development goals while contributing to Vietnam's energy security and strengthening the regional standing of the country's gas industry.

Petrovietnam