Vietnam imports more LPG, LNG from US, Australia as gas prices hold high

The company said the LPG shipment from the United States arrived aboard the vessel JENGGALA 21 to serve industrial and household demand, pushing total LPG imports to about 100,000 tonnes in May.

PV GAS said total LPG imports in the second quarter are projected at nearly 300,000 tonnes, sourced from the United States, the Middle East and other markets, while the company also supplies export markets including Cambodia and the Philippines.

The company added it has increased domestic LPG output at the Dinh Co and Ca Mau gas processing plants, contributing about five percent additional local supply and easing reliance on imports.

Separately, PV GAS said it had received an LNG shipment of more than 71,000 tonnes from Australia aboard the vessel PACIFIC SUCCESS to supply power generation and industrial demand, and is arranging additional cargoes for delivery between May and June.

The company said it is coordinating with the National System and Market Operator (NSMO), Vietnam Electricity (EVN), and PetroVietnam Power Corporation (PV Power) to monitor demand and market conditions and determine appropriate LNG procurement timing.

According to PV GAS, its integrated energy supply model allows customers to switch between pipeline gas, compressed natural gas (CNG), and LNG to replace LPG when needed, improving supply flexibility.

The company said additional supply in recent weeks helped stabilize the domestic market, with retail gas prices easing slightly early this month before remaining steady.

Vietnam National Petroleum Group (Petrolimex) listed prices for a 12-kg cylinder at VND598,104 (US$22.7) in Hanoi, VND566,000 ($21.5) in Da Nang City, VND592,000 ($22.5) in Ho Chi Minh City, and VND550,000 ($21) in Can Tho City, while 48-kg cylinders ranged from VND2.18 million ($82.7) to VND2.46 million ($93.3).

Prices quoted by PetroVietnam LPG Trading JSC were VND610,200 ($23) per 12-kg cylinder in Hanoi and up to VND638,400 ($24.2) in provinces such as Dien Bien and Lai Chau, while prices were VND652,444 ($24.7) in Da Nang and VND640,081 ($24.3) in Ho Chi Minh City.

Despite recent stability, prices remain higher than in February, when increases of up to nearly VND100,000 ($3.8) per 12-kg cylinder were recorded, with only limited declines since then.

Southern Gas Trading JSC listed 12-kg cylinder prices at VND619,000 ($23.5) in the southeast region and up to VND695,500 ($26.4) in the south-central coastal region, with 45-kg cylinders priced above VND2.3 million ($87.3) and VND2.5 million ($95), respectively.