AG&P LNG Grabs Stake in $500M LNG Terminal in South Vietnam

Friday, March 8, 2024

AG&P LNG, a subsidiary of Nebula Energy, has acquired a 49% stake in fully constructed Cai Mep LNG terminal located in Vũng Tàu district in South Vietnam.

The Cai Mep LNG terminal was developed by Hai Linh Company, a prominent petroleum product import terminal and trader in Vietnam.

The 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.

It is also strategically located near the Mekong River Delta and has three onshore tanks totaling to a capacity of 220,000 m3 of LNG storage, and LNG break- bulk capabilities that allow it to reload LNG into smaller vessels.

With a total of 14 bays for CNG and LNG truck-loading, the Cai Mep LNG Terminal is well-connected via multiple highways to several nearby demand centers to provide reliable access to LNG.

Currently undergoing pre-commissioning works, Cai Mep is scheduled for start-up in the third quarter of 2024.

"Cai Mep LNG terminal will play a pivotal role in enhancing energy security of Vietnam, paving the way for energy transition in Vietnam. Strategically located, Cai Mep LNG will enable reliable LNG access to multiple power plants in its vicinity, including Hai Linh's Hiep Phuoc Power Plant - currently under construction - and to the industries in the South Vietnam region,” said Karthik Sathyamoorthy, CEO, AG&P LNG.

"Rapid industrialization and strong economic growth currently being experienced by Vietnam are expected to generate strong gas demand growth led by power and industrial sectors, combined with the balanced LNG supply market,” added Le Van Tam, CEO, Hai Linh Company.


Categories: LNG Industry News Activity Asia

Related Stories

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

Fugro Expands Geotechnical Testing Capabilities in Indonesia

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Current News

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com