Terminal's commercial operations scheduled
to start in September
2024
- Cai Mep LNG Terminal will provide integrated LNG supply
solution through AG&P LNG and Hai Linh downstream joint venture
– Vietfirst Gas.
- Vietfirst Gas also signed second definitive agreement with
prominent demand aggregator at the 'Cai Mep LNG Terminal
Commissioning Symposium'. The first definitive agreement for 1 MTPA
offtake was signed with HPP power plant in March 2024.
- The 3 MTPA Cai Mep LNG Terminal, expandable to 6 MTPA, is
one of only two existing LNG terminals located in Vietnam. The Cai Mep LNG Terminal is
located in in Vũng Tàu district.
- Earlier this year in March, AG&P LNG, subsidiary of
Nebula Energy, acquired a 49% stake in the fully constructed
Cai Mep terminal developed by Hai
Linh Company Limited.
HANOI,
Vietnam, May 8, 2024 /PRNewswire/ -- Leading
LNG terminals and downstream infrastructure company, AG&P LNG,
a subsidiary of Nebula Energy, along with its partner, Hai Linh
Company Limited, a prominent petroleum product import terminal and
trader, in Vietnam today announced
the start of the commissioning of the Cai Mep LNG Terminal in an
elaborate 'Cai Mep LNG Terminal Commissioning Symposium' hosted at
the terminal.
The detailed milestones of the commissioning phase were
announced, leading up to the start of commercial operations of the
Cai Mep LNG Terminal targeted for September
2024. The symposium demonstrated AG&P LNG's singular
integrated LNG ecosystem with participation from customers, LNG
suppliers, gas aggregators, and network partners, connecting the
end-to-end LNG value chain, from sourcing to last mile
delivery.
Mr. Karthik Sathyamoorthy,
CEO, AG&P LNG, said, "I am thrilled to announce the start
of the commissioning of the Cap Mep LNG Terminal. We are now also
on track to start the commercial operations of the Terminal in
September 2024. The hard work and
can-do spirit of the team from Hai Linh, AG&P LNG and Nebula
Energy to meet our commitment of LNG delivery by Q3 2024 has been
nothing short of extraordinary. In a testament to our remarkable
team, I am equally delighted to share another exciting development.
Today, at our Cai Mep LNG Terminal Commissioning Symposium, we
signed our second definitive LNG offtake agreement with one of the
demand aggregators in Vietnam. We
had signed our first definitive agreement for 1 MTPA offtake with
HPP power plant earlier this year in March. Very soon, we will be
able to provide reliable LNG supply and immediately serve power and
nearby industrial customers."
AG&P LNG has six additional executed Letters of Intent
(LOIs) with six more demand aggregators for downstream LNG
distribution since it acquired 49% stake in the Terminal in March
earlier this year. The Cai Mep LNG Terminal is connected to nearby
Phu My industrial zone and has pipeline connectivity to
Vietnam's largest power generation
complex, Phu My, which has gas-fired capacity of 3.9 GW. The
Terminal is strategically located near the Mekong River Delta and
has a 220,000 m3 of LNG
storage, and LNG break-bulk capabilities that allows it to reload
LNG into smaller vessels. The Cai Mep Terminal initially set at 3
MTPA and expandable to 6 MTPA, has 14 truck-loading bays for LNG
and CNG filling.
Mr. Le Van Tam, CEO, Hai Linh
Company Limited, said, "I am excited to announce the
commissioning of our Cai Mep LNG Terminal. We at Hai Linh are
privileged to have AG&P LNG and Nebula Energy as our partners
as we work towards unlocking the potential LNG demand across
multiple sectors and help reinforce energy security in the
country."
Earlier this week, Cai Mep LNG launched the Expression of
Interest (EOI) for supplying commissioning LNG cargo to the
Terminal. The tender for the commissioning cargo is to be issued
early June and awarded by end June
2024.
About AG&P LNG
AG&P LNG is a global leader in developing and running LNG
and gas logistics and distribution solutions. AG&P provides the
infrastructure to access natural gas safely and easily in new and
growing markets. We act as an owner and service provider covering
the development, financing, engineering, procurement, project
management and construction of onshore and offshore gas
infrastructure, linking suppliers to downstream customers.
www.agplng.com
About Nebula Energy
Nebula Energy is a fully integrated investment, development,
shipping and asset management organization that delivers creative
and value-added resource solutions to utilities, private sector
companies, cooperatives and municipalities to accelerate the
transition to renewable energy.
Our projects provide significant social, environmental and
economic value by reducing emissions, lowering carbon footprint,
and enhancing the overall reliability of energy infrastructure. In
developing countries, Nebula Energy provides the capital required
for total energy solutions for critical energy to help bridge the
gap between supply and demand. www.nebulaenergy.net
About Hai Linh Company
Established in 1999, Hai Linh Company Limited is a private
enterprise involved in import, export and distribution of oil, gas
and petroleum products. The company is one of the domestic licensed
wholesale petroleum importers in Vietnam. In 2022, Hai Linh Co., Ltd.
ranked 68th among the 500 largest enterprises in Vietnam and ranked 33rd among the 500 largest
private enterprises in Vietnam.
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