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.
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