Hanoi (VNA) - Petrovietnam Chemical and Services Corporation (PVChem), a member of the Vietnam National Industry - Energy Group (Petrovietnam), and Germany’s Messer SE Co. KGaA on November 11 signed a joint-venture agreement to establish Cai Mep Industrial Gas Co., Ltd.
The joint venture will develop an industrial gas plant at the Cai Mep Industrial Park in Ho Chi Minh City, with an annual capacity of 200,000 tonnes and total investment of around 37 million USD. Construction is scheduled to begin in the third quarter of 2026 and commercial operations in the third quarter of 2028.
Designed under green and circular economic principles, the plant will use cold energy from PV GAS’s LNG storage to support deep-cooling in the air separation process. It will apply European cryogenic air separation (CAS) technology while recovering cold energy from LNG regasification, significantly cutting electricity and cooling-water consumption, reducing indirect carbon emissions and improving environmental performance. The facility will form a key link in Petrovietnam’s LNG–industrial gas–clean energy value chain.
The project is a pioneering initiative in energy transition, green production and value-chain integration for both Petrovietnam and PVChem, and one of Messer’s flagship global projects, underscoring its commitment to low-carbon production.
PVChem’s Board of Directors Chairman Truong Dai Nghia said the company had proactively sought partnership with Messer to address market demand and growth needs, creating a model of international cooperation combining global technology, domestic infrastructure and a stable market.
Under Petrovietnam’s value-chain strategy, PVChem and PV GAS are advancing the LNG–industrial gas–clean energy link, leveraging cold energy from PV GAS’s Thi Vai LNG Terminal to reduce dependence on electricity. This circular approach turns one unit’s by-product into another’s production input, reinforcing internal synergy. PVChem pledged to deliver the project on schedule.
Messer CEO Bernd Eulitz said the company was honoured to work with PVChem and Petrovietnam on integrating LNG and ASU technologies to optimise energy efficiency and meet European environmental standards.
Chairman of the Supervisory Board of Messer Stefan Messer added that the project would help Vietnam reduce industrial carbon emissions through the use of low-emission gases vital to multiple economic and medical sectors.
Petrovietnam General Director Le Ngoc Son congratulated the two companies, stressing the group’s role in ensuring national energy security and leading the transition towards clean energy through improving existing value chains and investing in low-carbon solutions, green energy, hydrogen and green chemicals. He described the Cai Mep project as a model of this strategic direction.
He urged PVChem, PV GAS and all partners to continue close coordination, noting that PV GAS will be crucial in providing a stable LNG supply for the plant. Petrovietnam’s leadership expressed confidence that the cooperation would open opportunities for further joint ventures with Messer, particularly in clean energy and emerging technologies.
Marking its 50th anniversary in 2025, Petrovietnam has grown into Vietnam’s leading economic group and a cornerstone of national development and energy security, supported by strong financial capacity, advanced technology and a skilled workforce. Its ecosystem spans three pillars: Energy, Industry and Services.
PVChem specialises in oil and gas chemicals, technical services, green production and renewable energy. With more than 35 years of development, it aims to become a regional leader in chemicals and industrial services and a pioneer in green transition and circular-economy initiatives.
Messer, the world’s largest privately owned industrial, medical and specialty gases group, operates in over 60 countries with 127 years of experience. Active in Vietnam since 1997, it is among the country’s largest German investors, with plants in Hai Phong, Thai Nguyen, Quang Ngai, Binh Duong and Tay Ninh./.
