AG&P acquires stake in Vietnamese LNG terminal
Published by Theodore Reed-Martin,
Editorial Assistant
LNG Industry,
AG&P LNG, a subsidiary of Nebula Energy, has acquired a 49% stake in Cai Mep LNG Terminal located in Vung Tàu district in South Vietnam. The Cai Mep LNG Terminal was developed by Hai Linh Co., Ltd., a prominent petroleum product import terminal and trader in Vietnam.
G&P LNG and Hai Linh Co., Ltd. will jointly lead the development of LNG trading and downstream gas distribution in Vietnam. This strategic investment represents a pivotal step in commercialising LNG supply, facilitating seamless transportation and delivery of LNG across AG&P LNG’s integrated LNG ecosystem. Please refer attached press release and a supporting photo.
Cai Mep, a US$500M LNG Import Terminal, with a capacity of 3 million tpy, expandable to 6 million tpy, is one of the only two existing LNG terminals in Vietnam and will provide LNG access to the gas-fired power plants and industries in the region. Currently undergoing pre-commissioning works, Cai Mep is expecting start-up in 3Q24.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/08032024/agp-acquires-stake-in-vietnamese-lng-terminal/
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