PetroVietnam affiliate to build two CNG depots

June 1, 2009

PetroVietnam Southern Gas Joint Stock Co. (PV Gas South), an affiliate of state-owned oil monopoly Vietnam National Oil and Gas Group (PetroVietnam), is preparing to kick off construction of two compressed natural gas (CNG) depots in Ho Chi Minh City and southern Ba Ria-Vung Tau province, the company’s Chairman Nguyen Si Thang said. The warehouses are expected to facilitate fuel supply for 800 public buses to be imported early July.CNG can be used in traditional internal combustion engine vehicles that have been converted and costs half the price of gasoline. By running on CNG instead of diesel, a bus is estimated to save US$8,000 a year in addition to virtually eliminating pollution, as CNG burns clean. CNG reduces carbon monoxide emission by between 70% and 87% of nitrogen oxide compared to diesel. The company plans to build 360 CNG retail stations throughout the country at a total cost of over US$250 million by 2010. (April 9, 2009)

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