AG&P LNG acquires 49% stake of Cai Mep LNG Terminal
LNG terminals and downstream infrastructure company AG&P LNG, a subsidiary of Nebula Energy, announced on March 7 that it has acquired a 49% stake in Cai Mep LNG Terminal located in Ba Ria- Vung Tau province in southern Vietnam.
Singapore (VNS/VNA) - LNG terminals and downstreaminfrastructure company AG&P LNG, a subsidiary of Nebula Energy, announcedon March 7 that it has acquired a 49% stake in Cai Mep LNG Terminal located inBa Ria- Vung Tau province in southern Vietnam.
Fully constructed, the Cai Mep LNG Terminal was developed by HaiLinh Company Limited, a prominent petroleum product import terminal and traderin Vietnam.
AG&P LNG CEO Karthik Sathyamoorthy said: “Cai Mep LNG Terminalwill play a pivotal role in enhancing the energy security of Vietnam, pavingthe way for energy transition in Vietnam. Strategically located, Cai Mep LNGwill 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 southern Vietnam region. AG&P LNG team hasalready worked closely with the Cai Mep LNG Terminal team to operationalize theterminal by Q3 2024. We are privileged to work with Hai Linh and make LNGavailable quickly and safely to the Vietnamese market.”
Hai Linh Company Limited CEO Le Van Tam said: “We are very excitedto welcome AG&P LNG as our shareholder in our Cai Mep LNG Terminal Company.With this partnership, we will be able to expedite the terminal’s start-up andcommissioning and LNG terminal operations into Vietnam and serve theexponentially growing LNG demand in our country.”
The Cai Mep LNG Terminal has pipeline connectivity to Vietnam’slargest power generation complex, the Phu My Industrial Zone, with gas-firedcapacity of 3.9 GW. The terminal is strategically located near the Mekong RiverDelta and has three onshore tanks totaling to a capacity of 220,000 cubicmetres of LNG storage, and LNG break-bulk capabilities that allow it to reloadLNG into smaller vessels.
With a total of 14 bays for CNG and LNG truck-loading, the Cai MepLNG Terminal is well-connected via multiple highways to several nearby demandcenters to provide reliable access to LNG./.
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At the signing ceremony (Photo: AG&P LNG) 
