PetroVietnam Gas Corporation (PV Gas) began trading nearly 1.9 billion shares on the Hochiminh Stock Exchange (STC) on Monday under the code of GAS.
Ending on Monday’s session, GAS gained 15 percent against the reference price to close at VND41,000 per share on the volume of 2.5 million shares. At this price, GAS became the largest stock by market capitalisation at VND77.7 trillion.
Speaking at the listing ceremony at STC on Monday, Do Khang Ninh, general director of PV Gas, said the enterprise has plans to acquire or seek cooperation to exploit gas fields in Russia and Australia.
Gas supply in Vietnam has been falling and the nation is expected to be short of around one billion cubic meters of gas each year in the near future.
PV Gas has yet to expand gas import projects due to high prices, at around $14 per million BTU, doubling the price sold to the electricity sector currently, Ninh told the Daily.
PV Gas is making the design for a gas import port at Thi Vai area in Ba Ria-Vung Tau Province while another gas import port project in Binh Thuan Province has been presented to the government.