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. This announcement was made during an elaborate ‘Cai Mep LNG Terminal Commissioning Symposium’ hosted at the terminal. The symposium detailed the milestones of the commissioning phase, leading up to the start of commercial operations of the Cai Mep LNG Terminal, targeted for September 2024.
The symposium showcased AG&P LNG’s integrated LNG ecosystem with participation from customers, LNG suppliers, gas aggregators, and network partners, highlighting the end-to-end LNG value chain, from sourcing to last-mile delivery.
Mr. Karthik Sathyamoorthy, CEO of AG&P LNG, expressed his excitement, stating, “I am thrilled to announce the start of the commissioning of the Cai 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 with six more demand aggregators for downstream LNG distribution since it acquired a 49 percent 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 a gas-fired capacity of 3.9 GW. The Terminal is strategically located near the Mekong River Delta and boasts 220,000 m³ of LNG storage and LNG break-bulk capabilities, allowing it to reload LNG into smaller vessels. The Cai Mep Terminal, initially set at 3 MTPA and expandable to 6 MTPA, features 14 truck-loading bays for LNG and CNG filling.
Mr. Le Van Tam, CEO of Hai Linh Company Limited, commented, “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 for supplying commissioning LNG cargo to the Terminal. The tender for the commissioning cargo is to be issued in early June and awarded by the end of June 2024.
For more information visit www.agplng.com
