Mr. Dang Hai Anh, Deputy Director of the Oil, Gas and Coal Department, Ministry of Industry and Trade (MOIT), delivers remarks at the meeting with VPT.

Working with Military Petroleum Company Region 3 (a subsidiary of MIPECORP), the delegation heard the unit introduce its petroleum storage system and shared its orientation for investment in expanding the storage system in Khanh Hoa province in the coming years. The delegation conducted an on-site survey of the existing infrastructure and looked into the management, operation, and utilization models of the current storage system. The two sides also discussed the potential for effectively utilizing existing infrastructure to serve national energy reserve objectives, as well as development orientations for petroleum storage systems capable of simultaneously meeting national defense, security, and economic development requirements.

Dr. Nguyen Van Tu, General Director of VPI, speaks at the meeting with VPT.

The delegation also worked with Van Phong Bonded Petroleum Terminal Joint Venture Company Limited (VPT), a member unit of Petrolimex Group (Petrolimex). VPT’s representatives introduced the operational capacity of Vietnam’s largest bonded petroleum storage facility, comprising 29 storage tanks with a total capacity of approximately 505,000 cubic meters. The company also reported on its business performance, the current state of its technical facilities, and its development strategy for the coming period.

Based on the on-site survey, the delegation assessed the important role of the petroleum storage system in ensuring national energy security, while also analyzing the advantages and challenges in the operation of bonded storage facilities, as well as strategic reserve models suitable for Vietnam’s conditions. In particular, discussions focused on clarifying the potential for mobilizing resources from the business sector through a socialized investment approach, in order to participate in the investment and development of the national energy reserve system, thereby improving investment efficiency and reducing pressure on the state budget.

Van Phong bonded petroleum storage facility operated by VPT

The on-site survey program at the participating organizations provided valuable practical information on the management, operation and development models of petroleum storage systems in Vietnam. The results will serve as an important basis for VPI to assess the current status of the sector and review experience in implementing energy stockpiling models appropriate to Vietnam's conditions, contributing to the completion of the draft National Energy Reserve Strategy to 2030, with a vision to 2045.