Gas South sets 2026 gas growth plan as LPG stays core business

Gas South outlined its 2026 priorities after shareholder approval at its annual meeting in Ho Chi Minh City on Aug. 19, 2026. The Vietnam gas company plans to tighten LPG operations, grow CNG and prepare LNG development while targeting VND 6,501.5 billion in revenue next year.

Why it matters: - Gas South is balancing a mature LPG base with new gas opportunities as Vietnam’s energy mix evolves. - The company’s 2026 plan shows how it aims to manage price volatility while investing in CNG and LNG capabilities. - The strategy matters for customers across residential, commercial, industrial and transportation segments.

What happened: - Gas South outlined its 2026 business priorities after shareholders approved the plan at the 2026 Annual General Meeting of Shareholders in Ho Chi Minh City on Aug. 19, 2026. - The company will focus on operational efficiency in LPG, continue developing CNG and prepare for LNG development. - Gas South said the plan is designed to support sustainable growth amid possible swings in oil prices, Contract Price movements and other input costs.

The details: - Gas South targets 2026 revenue of VND 6,501.5 billion, profit before tax of VND 128.6 billion and LPG sales volume of 201,606 tonnes. - The company proposed an 18% cash dividend for 2026, after a 20% cash dividend for 2025, equal to VND 100 billion in total distributions. - Shareholders authorized the Board of Directors to adjust business plans and profit-distribution arrangements if oil prices, CP prices or other key input factors change materially. - In 2025, Gas South reported LPG sales volume of 205,886 tonnes, 4.8% above target. - 2025 revenue reached VND 6,427.86 billion, while profit before tax was VND 141.75 billion, 0.8% above plan. - The company reported profit after tax of more than VND 115 billion and total assets above VND 2,553 billion. - Residential LPG volume reached 144,839 tonnes in 2025. - Bulk LPG volume reached 107.01% of plan in 2025. - New cylinder production reached 121.48% of plan in 2025. - Gas South operates four LPG warehouses with combined storage capacity of 8,100 tonnes. - The company operates 17 LPG filling stations with monthly throughput of nearly 20,000 tonnes. - Gas South’s nationwide network includes more than 1,300 agents and general agents. - The company also operates an LPG cylinder manufacturing and painting facility with annual capacity of one million cylinders. - Gas South was founded in 2000 as the Southern Gas Products Trading Enterprise under PV Gas. - The company started with 16 employees, charter capital of VND 10 billion and annual LPG volume of about 5,000 tonnes. - Gas South now operates from Ca Mau to Nghe An. - Gas South supplies LPG cylinders for residential customers and provides LPG and CNG products and services for commercial, industrial and transportation applications. - The company is preparing to expand its LNG offering as part of its longer-term energy portfolio.

Between the lines: - Gas South’s 2025 results show resilience in a competitive LPG, CNG and alternative-fuel market. - The company is leaning on operating discipline rather than aggressive expansion as it prepares for a more volatile pricing environment. - The push into Northern Vietnam suggests Gas South sees room to broaden its footprint beyond its traditional base. - Average employee income reached VND 18.11 million per person per month in 2025, 9% above plan, which points to stronger operating performance and labor retention priorities. - Mr. Hoang Viet Dung was elected as an additional member of the Board of Directors for the 2026–2031 term with 100% approval from participating voting shares. - PV Gas, Gas South’s largest shareholder, holds 35.26% of the company’s shares.

What’s next: - Gas South plans to widen its market reach, including further development in Northern Vietnam, while keeping safety, reliability and customer service at the center. - The company will continue aligning gas products and services with customer requirements and applying technology to operations. - Gas South will also keep preparing its LNG business for longer-term demand changes.

The bottom line: - Gas South is using LPG cash generation to fund a measured transition into CNG and LNG, with 2026 framed as a year of efficiency, resilience and selective growth.