Vietnam, May 20, 2024 - Nebula Energy’s subsidiary, AG&P LNG, in collaboration with Vietnam-based Hai Linh Company, has commenced commissioning activities for Vietnam’s Cai Mep LNG terminal. This marks a significant milestone as one of the country’s two existing LNG terminals prepares for commercial operations in September 2024.

The commissioning process began with an expression of interest for LNG supply, followed by a tender set for early June 2024, to be awarded by the month’s end. Vietfirst Gas, a joint venture between AG&P LNG and Hai Linh, will oversee integrated LNG supply solutions at the terminal.

This development follows Nebula Energy’s $300 million investment in AG&P LNG and its acquisition of a 49% stake in the Cai Mep terminal.

In addition to the commissioning activities, AG&P LNG has secured a definitive agreement with a major demand aggregator and another with a hydropower plant for a 1 million tonnes per annum (mtpa) offtake. The terminal, located in Vũng Tàu district, features a 3 mtpa capacity, expandable to 6 mtpa, with substantial storage and distribution capabilities.

Le Van Tam, CEO of Hai Linh, praised the partnership with AG&P LNG and Nebula Energy, emphasising their role in promoting Vietnam’s energy security.