Illustrative photo (Source: VNA)
Hanoi (VNA) - The PetroVietnam Gas Trading Company (PV GAS Trading) received a batch of 46,000 tonnes of refrigerated liquefied petroleum gas (LPG) from Saudi Aramco in early June, making it the first direct customer of the Saudi Arabian public petroleum and natural gas company in Vietnam.
The batch worth some 560 billion VND (24.06 million USD) resulted from a decade of exchanging, seeking opportunities, and building trust for cooperation between the sides.
Most of the imported LPG will be used for domestic consumption, with a fraction of its earmarked for export.
Established for nearly 15 years, PV Gas Trading now supplies close to and more than 70 percent of the Vietnamese and Cambodian markets’ demand for LPG, respectively.
In 2020, its international sales of LPG exceeded 300,000 tonnes.
Based in Dhahran, Saudi Aramco owns the second largest crude oil reserve in the world and is also the largest LPG producer and supplier in the Middle East with about 27 million tonnes of output. Its export volume is estimated at 8 million tonnes, mostly to the Asian market.