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Completion in 2025, the Cai Mép LNG Port in Ho Chi Minh City has an initial design capacity of 3 million tonnes per year (MTPA) and can be expanded to 6 MTPA. AG&P LNG — a subsidiary of Nebula Energy (US) — announced that it has reached an agreement to purchase an additional 51% stake in Cai Mép LNG Port Company, increasing its ownership to 100%. According to the announcement on 21 April in Singapore, after completing the legal procedures, Cai Mép LNG Port will become a wholly owned subsidiary of AG&P LNG. The seller, Hai Linh Co., Ltd, will divest all equity from the project. However, the transaction still requires regulatory approvals and must meet closing conditions. The deal value was not disclosed. Previously, in 2024, AG&P LNG participated in the project with a 49% stake. With the latest transaction, the company will consolidate all port assets into Nebula Energy's LNG infrastructure ecosystem. The project’s assets include three LNG storage tanks with a total capacity of 220,000 cubic meters, a unloading system enabling LNG transfers to smaller vessels, and 14 LNG and CNG filling stations for tanker trucks. The port directly connects to the Phu My industrial complex and the gas pipeline system serving the Phu My gas-fired power complex, the largest gas-fired power plant in the country with a capacity of about 3.9 GW. According to Peter Gibson, President of Nebula Energy, owning the entire project is a strategic move in its plan to develop gas infrastructure in Vietnam. The transaction allows AG&P LNG to integrate the entire value chain—from import and storage to distribution of LNG—within a single ecosystem. According to a representative of Hai Linh Co., Ltd, the divestment aims to restructure operations to focus on the fuel sector and the Hiệp Phước Power Plant, while acknowledging the progress of project cooperation to date. Not far from the Cai Mép LNG port is the Cái Mép Hā port mega-project, with a total investment of over VND 50,000 billion, planned to begin construction in the coming period. The project is led by a joint venture of Geleximco, ITC and SCIC and covers more than 351 hectares with a design capacity of 11 million TEU per year. In the future, the area will be connected in a coordinated manner to key infrastructure projects such as the Bien Hoa – Vung Tau Expressway, Long Thanh Airport, and the Thu Thiem – Long Thanh railway, contributing to logistics and import-export activity for the southern economic zone."
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