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38 min ago 2 min read
Singapore-based liquefied natural gas (LNG) infrastructure company AG&P LNG has signed a deal to take full ownership of the Cai Mep LNG import terminal in the Vũng Tàu province, South Vietnam.
Cai Mep LNG is a three million tonnes per annum import terminal, with a storage capacity of 220,000m³.
AG&P already held a in the project but will purchase oil giant Hai Linh Company’s majority 51% stake.
The deal is subject to regulatory approvals and closing conditions.
Once the deal is complete, the Cai Mep LNG terminal will be consolidated under US-based asset management company Nebula Energy, the .
With sole ownership, AG&P plans to scale LNG throughput at Cai Mep LNG to six million tonnes per annum and integrate the site with Nebula’s existing global LNG network.
The terminal has been providing LNG to gas-fired power plants and other industries in southern Vietnam since Q3 2025. It is connected via pipeline to the Phu My complex – Vietnam’s largest group of gas-fired power facilities – with a production capacity of 3.9 GW.
Peter Gibson, Chairman at Nebula Energy, said, “[This transaction] allows us to integrate the terminal end-to-end with our LNG supply, shipping, and downstream distribution platforms, and deliver reliable, competitively priced LNG to power plants and industries across the country.”
Le Van Tam, CEO at Hai Linh Company, said divestment aligns with its focus on its core petroleum business and Hiep Phuoc power plant.
“We are proud of what Hai Linh and AG&P LNG have accomplished together at Cai Mep – from completing construction to successful commissioning and commercial operations,” he noted.
