AG&P LNG acquires 49% stake in Cai Mep LNG terminal in South Vietnam

AG&P LNG, a subsidiary of Nebula Energy, has acquired a 49% stake in the 3 million tonnes/year (tpy) Cai Mep LNG terminal in Vũng Tàu district in South Vietnam, and entered a partnership with Hai Linh Co. Ltd. to establish a joint venture for LNG trading and downstream gas distribution in the country. 

Developed by Hai Linh Co. Ltd. and fully constructed, the LNG terminal has pipeline connectivity to Vietnam’s largest power generation complex, the Phu My industrial zone, with a gas-fired capacity of 3.9 Gw.

The terminal, expandable to 6 million tpy, is sited near the Mekong River Delta and has three onshore tanks totaling a capacity of 220,000 cu m of LNG storage, and LNG breakbulk capabilities that allow it to reload LNG into smaller vessels.

The terminal is currently undergoing pre-commission works and is expected to be operational by this year’s third quarter.