Vietnam's second LNG Terminal seeks cargo for commissioning tests
Two industry sources have confirmed that the Cai Mep terminal in Vietnam is looking for a cargo so it can begin commissioning tests. This will make the terminal the second terminal to import the fuel.
In order to reduce its reliance on coal and increase the amount of electricity generated by the country, Vietnam is planning to build LNG import terminals as well as a fleet 13 LNG-fired plants. These could make up 15% of total installed capacity in 2030. Analysts and sources say that the goal is likely to be missed.
Cai Mep LNG operates the Cai Mep LNG import terminal, which is a joint venture of Singapore's Atlantic, Gulf and Pacific LNG and Vietnamese oil trader Hai Linh Company.
According to two other sources and a copy of a licence issued by Ministry of Industry and Trade dated August 1, and reviewed by, Hai Linh Company Ltd has been awarded an import license.
Two of four sources who spoke said that the cargo requested to commission the Cai-Mep terminal is expected to be delivered in October.
Sources could not be identified because they weren't authorised to speak in public.
Karthik Sathyamoorthy, CEO of AG&P LNG, did not provide any specific details.
He said: "Given that we just received the import license, we're now working to accelerate the commissioning. We aim to finish (it) within the next three month."
Hai Linh Company and the Ministry of Industry and Trade of Vietnam did not respond when asked for comment.
Cai Mep LNG Terminal is located in the southern province of Ba Ria Vung Tau, Vietnam. It has a capacity to import three million metric tonnes of LNG per year.
The first LNG terminal in Vietnam, Thi Vai, operated by PetroVietnam Gas, has imported more than 300,000 tonnes of LNG at a time.
The cargoes were mostly shipped in to fuel existing gas-fired electricity plants to meet the surging demand for power during heatwaves earlier in this year. Reporting by Emily Chow and Khanh Vu from Singapore; editing by Barbara Lewis
(source: Reuters)
