AG&P LNG to Acquire Full Ownership of Cai Mep LNG Terminal in Vietnam

AG&P LNG will acquire full ownership of the Cai Mep LNG terminal in Vietnam, strengthening its position in the country’s growing LNG-to-power infrastructure network.

(P&GJ) — AG&P LNG has agreed to acquire full ownership of the Cai Mep LNG terminal in southern Vietnam, consolidating its position in one of Southeast Asia’s emerging LNG markets.

The transaction will see AG&P increase its stake from 49% to 100%, with partner Hai Linh Company Limited exiting the project. The deal is subject to regulatory approvals and customary closing conditions.

The Cai Mep terminal, located in Vung Tau province, was completed and commissioned in 2025 and is now supplying LNG to industrial and power generation customers in the region.

The facility includes three storage tanks with a combined capacity of about 220,000 cubic meters, along with truck loading infrastructure and break-bulk capabilities for smaller-scale distribution.

The terminal is connected to the Phu My industrial zone and has pipeline access to Vietnam’s largest gas-fired power complex, which has approximately 3.9 GW of capacity.

AG&P said full ownership will allow it to integrate the terminal with its broader LNG supply, shipping and downstream distribution operations.

Peter Gibson, chairman of Nebula Energy, said the move will strengthen the company’s ability to deliver LNG to the domestic market.

“Full ownership allows us to integrate the terminal with our LNG supply and downstream platforms,” Gibson said.

Hai Linh CEO Le Van Tam said the partnership had successfully brought the project through construction and commissioning.

“As Vietnam’s LNG market enters a new phase of growth, AG&P is well positioned to expand the terminal,” Tam said.

The acquisition comes as Vietnam increases its reliance on LNG imports to support power generation and industrial demand, with Cai Mep expected to play a key role in the country’s gas-to-power strategy.