On March 20, Vietnam Gas Corporation (PV GAS) said it, along with PV GAS Trading, both subsidiaries of Vietnam National Industry and Energy Group (Petrovietnam), had worked with customers to agree supply plans for liquefied petroleum gas (LPG) in the coming months.
The strategy focuses on increasing imports from outside the Middle East while boosting domestic production to reduce reliance on traditional supply sources.
In March 2026, PV GAS imported 5,000 tonnes of LPG from the US on March 17, followed by nearly 38,000 tonnes from Australia on March 20, transported by the Clipper Vanguard Vessel to Thi Vai Port.
The company is expected to import a further 48,000 tonnes from the US in April, while flexibly arranging smaller shipments to meet market demand.
According to PV GAS, the evolving conflict in the Middle East, particularly disruptions to transport through the Strait of Hormuz, has significantly affected global energy supply.
Previously, around 70 per cent of Vietnam’s LPG imports came from this region, leaving the domestic market exposed to external shocks.
Energy prices have surged since the onset of the conflict, with brent crude rising by about 1.5 times, LPG doubling, and liquefied natural gas increasing between two and three times. Shipping, insurance and supply diversification costs from regions such as the US, Australia and south-east Asia have also risen sharply, driving up import prices.
Pressure has intensified as major consumers including China and India increase imports for stockpiling, tightening LPG supply across Asia and pushing premiums up by 10 to 15 times compared with previous levels.
In response, since early March 2026, PV GAS and PV GAS Trading have activated contingency plans centred on strengthening domestic capacity and diversifying supply sources. Notably, despite rising global LPG prices, the company has maintained stable domestic prices since the start of the year.
PV GAS said it would ensure sufficient lpg supply for March and April 2026, and is implementing measures to meet most demand in May.