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AG&P LNG, a subsidiary of U.S.-based energy investment firm Nebula Energy, has agreed to acquire the remaining stake in the Cai Mep LNG terminal in Ho Chi Minh City, paving the way for full ownership and a stronger presence in Vietnam’s liquefied natural gas sector.

According to shipping news outletTrade Winds, AG&P LNG on April 21 (U.S. time) reached an agreement to purchase the remaining 51 percent stake in Cai Mep LNG Terminal Company Limited, the terminal’s owner, from Hai Linh Co. Ltd., lifting its ownership to 100 percent.

Both companies are headquartered in northern Phu Tho Province.

AG&P LNG previously held a 49-percent stake in the terminal, with the remainder owned by Hai Linh.

Upon completion, Cai Mep LNG Terminal Company Limited will become a wholly owned subsidiary of AG&P LNG, while Hai Linh will divest its entire stake.

The deal value has not been disclosed.

The transaction remains subject to regulatory approvals and customary closing conditions.

AG&P LNG said the Cai Mep LNG terminal can be expanded to a capacity of up to six million metric tons per year and will serve as a core LNG import facility within Nebula Energy’s global portfolio.

The terminal is one of only two LNG import facilities currently in operation in Vietnam.

It is located in the former Ba Ria-Vung Tau Province, now part of Ho Chi Minh City following a national administrative restructuring that took effect on July 1, 2025.

Le Van Tam, general director of Hai Linh, said the divestment would allow the company to focus on its petroleum business and the Hiep Phuoc power project, while enabling the terminal to be further developed by a specialized LNG infrastructure operator.

Completed and commissioned in 2025, the Cai Mep LNG terminal is ready to supply stable LNG volumes to downstream customers in southern Vietnam.

Situated near the Mekong Delta, the facility has three onshore storage tanks with a total capacity of 220,000 cubic meters and is equipped for break-bulk operations to reload LNG onto smaller vessels.

It also features 14 loading bays for compressed natural gas (CNG) and LNG trucks.

The terminal is not only connected to the nearby Phu My Industrial Park but also linked via pipeline to the Phu My gas-fired power complex, the country’s largest facility of its kind with a capacity of around 3.9 GW.

Peter Gibson, chairman of Nebula Energy, described the move to full ownership as a significant milestone for AG&P LNG and Vietnam’s broader energy transition.

AG&P LNG said the terminal’s connectivity via major expressways to key demand centers has made it a critical link in Vietnam’s emerging LNG-to-power value chain.

The acquisition is expected to accelerate capacity expansion, strengthen downstream gas distribution, and fully integrate the Cai Mep terminal into Nebula Energy’s global LNG network.

In particular, the South Korean delegation praised the Vietnam-Korea Institute of Science and Technology (VKIST) as a flagship model for bilateral cooperation.

Vietnam encourages South Korean enterprises to bolster new investments and expand their operations in the country, particularly in priority sectors such as infrastructure, high-tech electronic manufacturing, semiconductors, big data, biotechnology, and smart cities.

Deputy Prime Minister Ho Quoc Dung made these remarks while hosting South Korea’s Deputy Prime Minister and Minister of Science and ICT, Mr. Bae Kyung Hoon, in Hanoi on April 22.

The meeting was held as part of the state visit to Vietnam by South Korean President Lee Jae Myung to Vietnam between April 21-24.

The Vietnamese Deputy PM urged ministries and agencies from both nations to continue their close coordination to ensure the effective operation of cooperation mechanisms. He emphasized the need to translate policy agreements into concrete, practical projects that yield tangible benefits.

South Korean Deputy PM Bae Kyung Hoon, for his part, highlighted that many major South Korean corporations highly value Vietnam's development potential and high-quality human resources. He noted that the two sides are currently expanding cooperation across various fields, including agriculture, human resource training, and the implementation of Official Development Assistance (ODA) projects.

In particular, the South Korean delegation praised the Vietnam-Korea Institute of Science and Technology (VKIST) as a flagship model for bilateral cooperation.

Deputy PM Bae Kyung Hoon expressed his expectation that VKIST would continue to evolve into a symbol of the enduring partnership between the two countries.

The South Korean side committed to strengthening support and coordination for the effective implementation of projects related to VKIST. The goal is to transform the institute into more than just a research facility, serving as a vital bridge for business collaboration between the two nations. VKIST is also envisioned as a foundation for joint human resource training programs, specifically in software development and Artificial Intelligence (AI).

The South Korean Deputy PM further emphasized the vast potential of Vietnam's young workforce and expressed his hope for enhanced cooperation in cutting-edge sectors such as AI and the semiconductor industry—key areas of focus for the South Korean Government.

Deputy Prime Minister Ho Quoc Dung reaffirmed this stance during a meeting with Mr. Mikhail Chudakov, Deputy Director General of the International Atomic Energy Agency (IAEA), in Hanoi on April 22.

​The consistent policy of the Party, State, and Government of Vietnam is to develop atomic energy for peaceful purposes, ensuring safety, security, and nuclear non-proliferation while fully complying with international treaties.

Deputy Prime Minister Ho Quoc Dung reaffirmed this stance during a meeting with Mr. Mikhail Chudakov, Deputy Director General of the International Atomic Energy Agency (IAEA), in Hanoi on April 22.

The Deputy PM emphasized that since joining the IAEA, Vietnam has consistently regarded the agency as a trusted strategic partner. Cooperation between the two sides has become increasingly effective and practical.

He specifically highlighted the IAEA's support through technical cooperation projects, including a nuclear infrastructure review mission in Vietnam in December 2025.

The official handover of the IAEA's Integrated Nuclear Infrastructure Review (INIR) report to Vietnam is considered a significant milestone. The report provides practical recommendations aimed at perfecting legal and institutional frameworks and enhancing technical capacity for Vietnam's nuclear power program. Deputy PM Dung expressed his hope for continued IAEA assistance in implementing these recommendations.

“The IAEA stands ready to support Vietnam through training programs, technical tools, expert advice, and by connecting the country with international partners and suppliers to facilitate the nuclear power program,” Mr. Mikhail Chudakov affirmed. He stressed that thorough infrastructure preparation and the development of high-quality human resources are key factors in ensuring the program's success.

The IAEA leader pledged that the agency will continue to accompany and support Vietnam in perfecting its infrastructure, aiming for the implementation of a nuclear power program that is safe, effective, and in full alignment with international standards.