PetroVietnam Gas shifts LPG imports to US as Middle East supply disrupted
Updated
Updated · Bloomberg · Apr 27
PetroVietnam Gas shifts LPG imports to US as Middle East supply disrupted
11 articles · Updated · Bloomberg · Apr 27
In May, PetroVietnam Gas JSC will import 66,000 tons of LPG from the US, surpassing the 44,000 tons from the Middle East.
This follows a surge in US imports to 76,000 tons in April, up from just 2,200 tons in March, marking a significant change in sourcing.
The shift is driven by the Iran war, which has disrupted Middle East production and closed the Strait of Hormuz, prompting a reordering of global energy flows.
How is the Iran conflict permanently redrawing the global map of energy trade for all of Asia?
Is Vietnam swapping its Mideast energy dependency for a new reliance on the United States?
How will Vietnam shield its economy from the shock of soaring global energy prices?
Can U.S. infrastructure sustain the surging, long-term energy demands from both Vietnam and India?
Does this massive investment in fossil fuel imports threaten Vietnam's 2050 net-zero climate goals?
The 2026 Strait of Hormuz Blockade: Impact on Vietnam’s LPG Supply and PV GAS’s Strategic Response
Overview
In early 2026, attacks in the Middle East and Iran's blockade of the Strait of Hormuz caused a sharp drop in LPG supply to Vietnam, triggering soaring global prices and intense competition across Asia. PV GAS responded by securing alternative supplies from the US and Australia despite higher costs and longer shipping times, while boosting domestic production and implementing price controls to ease the impact on consumers. The crisis forced industries to cut back and households to reduce LPG use, especially low-income families. Ongoing challenges include supply chain delays and environmental impacts from longer shipping routes, prompting Vietnam to diversify sources, increase domestic output, and promote alternative fuels for greater energy security.