AG&P LNG and Hai Linh begin commissioning of Cai Mep LNG terminal in Vietnam
Leading LNG terminals and downstream infrastructure company, AG&P LNG, a subsidiary of Nebula Energy, along with its partner, Hai Linh Co. Ltd., a prominent petroleum product import terminal and trader, have 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 2 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 MMtpy 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 the 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 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 MMtpy and expandable to 6 MMtpy, has 14 truck-loading bays for LNG and CNG filling.
Mr. Le Van Tam, CEO, Hai Linh Co. Ltd., 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 the end of June 2024.
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