A brand new chapter for Vietnam’s vitality transition journey

May AG&P LNG make clear the funding collaboration with Hai Linh and the event plan for Cai Mep LNG terminal within the close to future?

AG&P LNG has accomplished the acquisition of a 49 per cent stake in Cai Mep LNG terminal in Ba Ria-Vung Tau from Hai Linh, a number one petroleum buying and selling firm in Vietnam.

We’re delighted to pour cash into one of many high LNG terminals in Vietnam with an estimated worth of $500 million and a capability of three million tonnes yearly, expandable to 6 million tonnes per 12 months. This funding deal helps commercialise the availability chain, transportation, and supply of LNG by our built-in ecosystem.

We discover Vietnam a profitable market with excessive development potential. Being a part of the respected Asian economic system can also be thrilling and essential for us. Our funding actions right here will undoubtedly profit companions and the nation as a complete.

With the settlement, Hai Linh Firm Restricted and AG&P Group will formally type a complete partnership specializing in creating LNG import and regasification services in addition to a fuel community. AG&P LNG may also present design, undertaking administration, and different infrastructure companies.

A new chapter for Vietnam’s energy transition journey
The monetary settlement ceremony between AG&P LNG and Hai Linh

What issues have AG&P LNG and Hai Linh overcome collectively, and what obstacles are on the horizon?

Throughout the collaboration course of, AG&P LNG and Hai Linh have seen eye to eye on virtually each necessary facet, even on challenges.

By way of paperwork, due to clear and honest communication, mutual sharing, and a powerful need to foster cooperation, negotiations between the 2 events have been sealed in file time.

Concerning obstacles, unfamiliarity seems to be on the high of the record. LNG is a novelty in Vietnam, and the nation has been engaged on finalising its authorized framework and regulatory paperwork. This has resulted in discussions between the 2 events to provide you with an affordable value as soon as LNG is available on the market.

Moreover, LNG costs fluctuate each day on the worldwide stage. Subsequently, the earlier the authorized framework is handed, the earlier Vietnamese enterprises can swiftly purchase LNG at beneficial costs.

This case presents a possibility because the Vietnamese authorities is actively creating and finalising authorized papers referring to LNG. Consequently, AG&P LNG stands as one of many pioneering enterprises within the discipline and is poised to commercialise promptly as soon as the authorized framework is permitted.

How does AG&P LNG assess the demand for LNG in Vietnam?

Vietnam’s important potential and demand for pure fuel as a gasoline for vitality manufacturing, industrial manufacturing, and transportation type the idea of our improvement technique.

Moreover, Vietnam has a critical dedication to vitality planning as per its Vitality Grasp Plan for 2030, estimating LNG demand to be between 10 to fifteen million tonnes per 12 months, which has received us over.

Accordingly, Cai Mep LNG terminal is anticipated to contribute roughly 5 million tonnes per 12 months ranging from September, with growing contributions yearly.

The terminal is situated close to the Mekong Delta and is related to main energy vegetation, together with the massive Phu My energy era advanced with a gas-fired capability of three.9GW. With a storage capability of 220,000 cubic metres of LNG and handy entry to highways, the terminal goals to supply dependable LNG provide to key areas.

Cai Mep LNG terminal will play a pivotal function in enhancing vitality safety and facilitating Vietnam’s vitality transition. Collaboration with Hai Linh will guarantee swift and protected entry of LNG into the Vietnamese market.

What’s your tackle the extent of competitors within the improvement and provide of LNG in Vietnam at current?

We’re thrilled to be a part of Vietnam’s vitality transition course of, particularly by way of LNG imports. The event of extra services like Cai Mep LNG terminal appears unlikely as a result of prolonged means of analysis and improvement, in addition to influx demand. To be extra particular, as per infrastructure, there shall be calls for for fuel recirculation methods at factories and transportation methods with massive capacities.

As we observe and delve into the home market, presently, there’s solely the existence of our terminal and a PVGas facility. Nonetheless, the mixed capability of each terminals can solely meet a small portion of the market requirement.

As well as, Hai Linh is the first client of Cai Mep LNG terminal. In consequence, we see plentiful potential and room for continued improvement.

As LNG Cai Mep terminal comes into operation, we are going to try to maximise its capability. Subsequently, the 2 firms will take a look at growth plans, with Vietnam’s central area thought-about a promising vacation spot.

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