Nebula Energy’s Subsidiary AG&P LNG Collaborates with Vietnam to Develop an LNG Terminal

Jun 2024

Nebula Energy’s Dubai-based subsidiary, AG&P LNG, along with its partner, Vietnam’s Hai Linh Company, has announced the commencement of commissioning activities for Vietnam’s liquefied natural gas (LNG) terminal, one of the country’s two LNG terminals.

Following the expression of interest (EOI) for supplying commissioning LNG cargo to the terminal, the tender for this cargo is expected to be issued in early June 2024 and awarded by the end of that month, as stated at the Cai Mep LNG Terminal Commissioning Symposium. Commercial operations are set to begin in September 2024, with Vietfirst Gas, a downstream joint venture between the Dubai-based firm and its Vietnamese partner, providing integrated LNG supply solutions at the terminal.

This development follows Nebula Energy’s announcement in January of a USD 300 million investment in AG&P LNG and the confirmation in March of AG&P LNG purchasing a 49% stake in the Hai Linh-developed Cai Mep LNG terminal. Since acquiring the terminal stake in March, AG&P LNG has also signed six additional letters of intent (LOIs) with six demand aggregators for downstream LNG distribution.

The Cai Mep LNG terminal, located in Vung Tau, has an initial capacity of 3 million tonnes per annum (mtpa), expandable to 6 mtpa. The terminal features three onshore tanks capable of storing 220,000 cubic meters of LNG, with break-bulk capabilities for reloading into smaller vessels. Additionally, the terminal includes 14 truck-loading bays for LNG and compressed natural gas (CNG) filling and a pipeline connection to Phu My, Vietnam’s largest power generation complex, which has a gas-fired capacity of 3.9 GW.

(Source: Offshore Energy)

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