The meeting was chaired by Pham Minh Huy, the group’s chairman, and included representatives from various Petrovietnam subsidiaries. The meeting focused on the group’s strategic direction, particularly in the context of the global energy transition towards sustainability. The members reviewed the progress of their sustainable green fuel technology projects, which are crucial for reducing the environmental impact of their operations. Petrovietnam’s commitment to sustainability was highlighted, with the group’s chairman emphasizing the importance of aligning their operations with international environmental standards.

The cost of green ammonia is currently higher than conventional ammonia, but it is expected to decrease as renewable energy costs fall. Green ammonia can be used as a fuel for heavy-duty transport and in power generation, offering a zero-emission alternative. The production of green ammonia involves the electrolysis of water to produce hydrogen, which is then combined with nitrogen from the air. This process requires significant energy, but the use of renewable energy sources can make it sustainable.

The company also plans to establish a green ammonia production plant in the southern province of Binh Thuan. The board emphasized the importance of green ammonia in the context of Vietnam’s commitment to reducing carbon emissions and transitioning to a low-carbon economy.

The development of biomass conversion technology and fuel synthesis from syngas is a complex process that involves several key considerations. Firstly, the high technology investment and costs associated with these processes cannot be overlooked. Advanced equipment and specialized knowledge are required to convert biomass into usable fuels, which can be a significant financial barrier for many companies. For instance, the production of biofuels from lignocellulosic biomass involves complex pretreatment, enzymatic hydrolysis, and fermentation processes, each requiring specific technologies and expertise.

The plan includes a comprehensive energy transition roadmap, which is a key component of the company’s long-term vision. This roadmap is designed to guide the company’s efforts in reducing carbon emissions and enhancing energy efficiency.