Hai Linh becomes second LNG trading firm in Vietnam
Vietnamese fuel business Hai Linh Company Limited has received a license to import and export LNG, becoming the second LNG trading firm in Vietnam, S&P Global reported on Monday.
The first is PVGas, a subsidiary of state-owned Petrovietnam and listed on the Ho Chi Minh Stock Exchange (HoSE) as GAS.
A fuel station of Hai Linh Company Limited in Bac Ninh province, northern Vietnam. Photo courtesy of Bac Ninh newspaper.
Hai Linh is known as a major fuel business in Vietnam and the developer of Cai Mep LNG terminal.
The terminal is connected to the nearby Phu My Industrial Zone in Ba Ria-Vung Tau province and has pipeline connectivity to Vietnam’s largest power generation complex, Phu My, which has gas-fired capacity of 3.9 GW.
It is one of two existing LNG terminals in Vietnam. The other, currently the only operational facility, is the LNG Thi Vai terminal operated by PV Gas, also in Ba Ria-Vung Tau.
In May, Singapore-headquartered AG&P LNG, a subsidiary of the U.S.-based Nebula Energy, said it plans to start commissioning the Cai Mep LNG terminal in September.
The move is the firm’s next step after the acquisition of a 49% stake in the terminal in March through an agreement with local firm Hai Linh, AG&P LNG said.
The terminal, with 22 hectares of storage for LNG, has an initial capacity of three million tons per annum (MTPA) and could double the figure, AG&P LNG said.
- Related News
- Read More
Vietnam agricultural machinery firm VEAM plans 50.35% dividend payout for 2023
State-controlled Vietnam Engine and Agricultural Machinery Corporation (VEAM) has announced its 2023 dividend payout plan – a cash dividend rate of 50.35%, equivalent to VND5,035 ($0.2) per share.
Companies - Thu, November 7, 2024 | 5:42 pm GMT+7
New realty-related laws enhance investor confidence in Vietnam: Savills
The recent enactment of new real estate-related laws is augmenting investor confidence in Vietnam’s stable and transparent legal environment, with foreign investors showing strong interest in diverse segments, says a Savills Vietnam executive.
Real Estate - Thu, November 7, 2024 | 5:09 pm GMT+7
Vietnam Education Publishing House posts record profit
Vietnam Education Publishing House reported a net profit of VND355 billion ($14 million) in the first half of this year, an all-time high.
Companies - Thu, November 7, 2024 | 4:57 pm GMT+7
Vietnam invites China railway builder to join project linking 2 nations, begin in 2025
Vietnamese Prime Minister Pham Minh Chinh has urged China Railway Construction Corporation (CRCC) to join the railway project linking the two nations, with an aim to start the construction in 2025.
Infrastructure - Thu, November 7, 2024 | 3:21 pm GMT+7
Vietnamese tea undervalued by lack of innovation: national association chairman
Tea growers in Vietnam primarily concentrate on meeting immediate production and sales agreements; and not enough of “polishing or innovating,” which undervalues Vietnamese tea, says Hoang Vinh Long, chairman of the Vietnam Tea Association.
Economy - Thu, November 7, 2024 | 2:28 pm GMT+7
Korean Air announces new country manager for Vietnam
Korean Air has appointed Kyoung Hee Kang as its new regional manager for Vietnam as the Korean airline is looking to serve the increasing demand of travelers between the two countries.
Companies - Thu, November 7, 2024 | 1:08 pm GMT+7
Northern Vietnam province okays Taiwan’s $120 mln fan manufacturing investment
Thai Binh province has licensed Taiwanese-invested Yuan Long International Limited's $120 million project to manufacture ceiling fans and fan components.
Industries - Thu, November 7, 2024 | 11:59 am GMT+7
China’s Comac partners with Vietjet to operate homemade planes in Vietnam
China’s state-owned aerospace manufacturer Comac has been partnering with Vietjet to operate its self-made airplanes in Vietnam as the former looks to tap the Southeast Asian country’s fast-growing aviation market.
Companies - Thu, November 7, 2024 | 11:43 am GMT+7
Japan firms ready to build $2 bln northern Vietnam LNG power plant in 2025
Truong Thanh Vietnam Group and Japanese firms Tokyo Gas and Kyuden International are meeting deadlines to kick off construction of the $2-billion LNG Thai Binh power plant in northern Vietnam in Q3/2025.
Energy - Thu, November 7, 2024 | 11:29 am GMT+7
Vietnam President to attend APEC in Peru, first overseas trip since inauguration
Vietnamese State President Luong Cuong will pay an official visit to Peru and attend the 2024 APEC Economic Leaders’ Week in Lima from November 12-16, marking his first overseas trip since taking office late last month.
Politics - Thu, November 7, 2024 | 10:19 am GMT+7
How Trump's presidency could affect Vietnam's economy, stock market
Donald Trump’s election as the United States' 47th President could have a strong impact on Vietnam's economy and stock market, say some Vietnamese analysts.
Economy - Thu, November 7, 2024 | 9:36 am GMT+7
Vietnam hydropower firms see robust Q3 profit growth
Hydropower developers in Vietnam posted strong year-on-year profit growth in Q3/2024, thanks to higher electricity consumption and favorable hydrological conditions.
Finance - Thu, November 7, 2024 | 8:03 am GMT+7
Thai rice exports to face stiffer competition from India
Thailand’s rice exports are expected to face stiffer competition as India has removed export restrictions and taxes, allowing unlimited rice exports, according to Charoen Laothammatas, president of the Thai Rice Exporters Association.
Southeast Asia - Wed, November 6, 2024 | 10:51 pm GMT+7
Lego completes 90% of $1.3-bln Vietnam factory, to open in 2025
Danish toymaker Lego has completed 90% of its $1.3-billion plant in Vietnam’s southern province of Binh Duong and aims to launch the factory in early 2025.
Companies - Wed, November 6, 2024 | 7:34 pm GMT+7
Tourism growth boosts aviation retail potential in Vietnam: exec
Vietnam’s aviation retail trade potential has risen alongside growth in the number of tourists visiting the country, says Johnathan Hanh Nguyen, chairman of the Inter-Pacific Group (IPPG).
Companies - Wed, November 6, 2024 | 4:45 pm GMT+7
VN-Index up 15 points on hopes for Trump victory
Vietnam’s benchmark gained 15.52 points, or 1.25%, to 1,261.28 on Wednesday, supported by investor expectations of Trump re-election as the 47th President of the US, the world’s largest economy.
Finance - Wed, November 6, 2024 | 4:10 pm GMT+7
