4:21:43 PM | 5/9/2008
Relevant authorities September 3 inaugurated a compressed natural gas (CNG) production plant with an initial capacity of compressing 30 million tons of material gas per year in southern Ba Ria Vung Tau province.
The plant, invested by state-owned oil monopoly PetroVietnam group, some local partners and IEV Energy of Malaysia, will be raised capacity in the years to come.
After being processed at the Dinh Co gas processing station, natural gas will be transported to the Phu My gas distribution center operated by PV Gas where the gas will be compressed before being shipped to agents.
The most prominent of CNG is cheap and environmentally friendly, which is expected to substitute petroleum in the near future.
According to PetroVietnam, Vietnam boasts a natural gas reserve of over 2,000 billion cubic meters but the country has assessed only 400 billion cubic meters. (Vietnam Economic Times)
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