HCMC – AG&P LNG, a subsidiary of Nebula Energy, has completed an agreement to acquire an additional 51% stake in Cai Mep LNG Terminal Company, raising its ownership to 100%.
The move follows AG&P LNG’s initial acquisition announcement of a 49% stake in 2024 and reflects Nebula Energy’s strong commitment to Vietnam economic development.
Upon completion of the transaction and regulatory approvals, Cai Mep LNG Terminal Company will become a wholly owned subsidiary of AG&P LNG, with Hai Linh Company Limited fully divesting its shareholding.
The transaction remains subject to customary regulatory approvals and closing conditions.
The Cai Mep LNG terminal began commercial operations in the third quarter of 2025, following a construction and commissioning phase during 2025.
The project was initially developed by Hai Linh Co., Ltd., after which both parties jointly completed the facility and brought it into commercial operation during the transition period.
In terms of scale, the terminal has an initial design capacity of three million tonnes per annum (MTPA), with potential expansion to 6 MTPA. It is currently one of only two LNG terminals in operation in Vietnam, serving as a key import gateway for gas supplies to southern Vietnam.
With its integrated infrastructure links and regional transport connectivity, Cai Mep is seen as a key node in the LNG supply chain for southern Vietnam.
Peter Gibson, Nebula Energy’s chairman, said: “Taking full ownership of Cai Mep is a defining milestone for AG&P LNG and for Vietnam’s energy transition… Consolidating 100% of Cai Mep allows us to integrate the terminal end-to-end with our LNG supply, shipping, and downstream distribution platforms, and deliver reliable, competitively priced LNG to power plants and industries across the country.”
AG&P LNG is a downstream LNG infrastructure developer under Nebula Energy, which holds strategic control following the ownership restructuring transaction.
The company operates from the United Arab Emirates and maintains a regional hub in Singapore to coordinate its operations across Asia, including LNG terminal projects and supply chain activities.
