Launching Cai Mep Industrial Gas Project: Promoting Green Transformation in Vietnam

On November 11, PetroVietnam Chemicals and Services Joint Stock Corporation (PVChem), a member of Vietnam National Energy and Industry Group ( Petrovietnam ) and Messer SE Co. KGaA (Germany) signed a Joint Venture Contract to establish Cai Mep Industrial Gas Company Limited. Attending and witnessing the signing ceremony on behalf of Messer SE Co. KGaA (Messer) were Mr. Stefan Messer, Chairman of the Supervisory Board; Mr. Bernd Eulitz - General Director; and representatives of the company's leadership.

On Petrovietnam's side, there were Mr. Le Manh Hung, Chairman of the Board of Directors; Mr. Le Ngoc Son, General Director; and leaders of the Board of Directors, the Board of Management, and leaders of the Group's professional departments. On PVChem's side, there were Mr. Truong Dai Nghia, Chairman of the Board of Directors; Mr. Duong Tri Hoi, General Director; and leaders of the Board of Directors, the Board of Management.

*Mr. Duong Tri Hoi, General Director of PVChem and Mr. Bernd Eulitz, General Director of Messer signed the contract under the witness of leaders of Petrovietnam, Messer and PVChem.*

The joint venture between PVChem and Messer will invest in the construction of an industrial gas production plant in Cai Mep Industrial Park, Ho Chi Minh City, with a capacity of 200,000 tons/year and a total investment of about 37 million USD. The plant is expected to start construction in the third quarter of 2026 and be commercially operational in the third quarter of 2028.

Cai Mep Industrial Gas Plant is designed according to a green and circular economic model, utilizing cold energy from PV GAS's LNG storage system to deep cool the gas separation process. The plant applies European Cryogenic Air Separation (CAS) technology, combined with the recovery of cold energy generated during the LNG regasification process. This solution significantly reduces electricity and cooling water, thereby reducing indirect CO₂ emissions and improving overall environmental efficiency. This project is an important link in Petrovietnam's LNG - industrial gas - clean energy value chain, contributing to improving energy efficiency, reducing CO₂ emissions and optimizing existing gas infrastructure.

This is not only a pioneering project in energy transition, green economic model, circular economy, chain linkage that Petrovietnam and PVChem were assigned to implement, contributing to promoting the national energy strategy, but also a pioneering project of Messer globally demonstrating a strong commitment to the green production transition by reducing CO₂ emissions and saving energy.

Mr. Truong Dai Nghia, Chairman of PVChem Board of Directors, shared that with the goal of growth and practical needs, PVChem has proactively sought and negotiated with Messer to implement the industrial gas production plant project in Cai Mep under the joint venture model. This combination creates a model of international cooperation: global technology - domestic infrastructure - stable market.

*Mr. Truong Dai Nghia, Chairman of PVChem Board of Directors, spoke at the signing ceremony.*

In addition, in the value chain of Petrovietnam, PVChem and PV GAS have cooperated to develop the value chain: LNG - Industrial gas - Clean energy. The project will utilize cold energy from PV GAS's Thi Vai LNG Warehouse for deep cooling, instead of depending entirely on electricity. The energy by-products of one unit become the production input of another. This is a symbol of internal synergy, a clear demonstration of active cooperation in the value chain. At the same time, PVChem's leaders committed to working with partners to complete and put the project into commercial operation on schedule.

Mr. Stefan Messer - Chairman of the Messer Supervisory Board emphasized: “Messer is honored to cooperate with PVChem and Petrovietnam in implementing the integrated LNG-ASU solution to optimize energy efficiency and meet European environmental standards. This is a great opportunity for Vietnamese industry to reduce carbon emissions through the use of low-emission industrial gases - an essential factor for many economic and medical sectors.”

*Mr. Stefan Messer - Chairman of the Messer Supervisory Board: This is a great opportunity for Vietnamese industry to reduce carbon emissions through the use of low-emission industrial gases.*

On behalf of Petrovietnam's leadership, General Director Le Ngoc Son congratulated PVChem and Messer on successfully signing the contract to establish a joint venture between the two companies. General Director Le Ngoc Son emphasized that, with its pivotal role in ensuring national energy security, Petrovietnam has been pioneering the transition to clean energy, both improving the efficiency of the existing energy value chain and investing heavily in low-carbon solutions, green energy, hydrogen and green chemicals. In particular, the Cai Mep industrial gas project is a perfect model for this new strategy.

Petrovietnam General Director Le Ngoc Son highly appreciated the cooperation between PVChem and Messer, and believed that this cooperation will open up new joint venture projects between Petrovietnam and Messer in the coming time.

In order for the project to be successfully implemented, ensuring safety, quality and progress, General Director Le Ngoc Son requested PVChem, PV GAS and related parties to continue to closely coordinate in implementing the project. Accordingly, PV GAS will play a key role in ensuring a stable and reliable energy source from the LNG plant, which is an essential condition for the project's success. Petrovietnam leaders believe that this cooperation will open up new joint venture projects between Petrovietnam and Messer in the coming time, especially in the fields of clean energy and new technology.

2025 marks the 50th anniversary of Petrovietnam's establishment and development. After half a century, Petrovietnam is now the No. 1 economic group in Vietnam, playing a pivotal role in economic development and ensuring energy security for the country. With strong financial potential and advanced science and technology foundation, along with a team of highly qualified managers and technical experts, Petrovietnam owns a large-scale business ecosystem, including many units and member companies operating and providing products and solutions in 03 core pillars including Energy - Industry - Services.
PVChem is a member of Petrovietnam, operating in the fields of petrochemicals, technical services, green manufacturing and renewable energy. With over 35 years of development, PVChem aims to become a leading regional enterprise in the field of chemicals and industrial services, a pioneer in green transition and circular economy development.
Messer is the world's largest privately held group specializing in industrial, medical and specialty gases, operating in more than 60 countries with 127 years of experience. Operating in Vietnam since 1997, Messer is one of the largest German investors, with factories in Hai Phong, Thai Nguyen, Quang Ngai, Binh Duong and Tay Ninh.

Source: https://congthuong.vn/khoi-dong-du-an-khi-cong-nghiep-cai-mep-thuc-day-chuyen-doi-xanh-tai-viet-nam-430024.html