Nebula Energy-backed AG&P LNG completed the acquisition of a 49% stake in Cai Mep LNG Terminal from Hai Linh.

Nebula Energy-backed AG&P LNG, a LNG terminals and downstream infrastructure company, completed the acquisition of a 49% stake in Cai Mep LNG Terminal from Hai Linh, a petroleum product import terminal and trader. Financial terms were not disclosed. "Cai Mep LNG Terminal will play a pivotal role in enhancing energy security of Vietnam, paving the way for energy transition in Vietnam. Strategically located, Cai Mep LNG will enable reliable LNG access to multiple power plants in its vicinity, including Hai Linh's Hiep Phuoc Power Plant - currently under construction - and to the industries in the South Vietnam region. AG&P LNG team has already worked closely with the Cai Mep LNG Terminal team to operationalize the terminal by Q3 2024. We are privileged to work with Hai Linh and make LNG available quickly and safely to the Vietnam market," Karthik Sathyamoorthy, AG&P LNG CEO.