E1, Construction of Vietnam LPG Refrigerated Tank Terminal

Commercial Operation in 2025... Supplying Over 1 Million Tons Annually to Vietnam

[Asia Economy Reporter Hwang Yoon-joo] LPG specialist company E1 is set to fully enter the Vietnamese market with the construction of an LPG refrigerated tank terminal in Vietnam.

On the 21st, E1 announced that it signed a joint venture agreement with Venus Gas, the largest LPG importer in northern Vietnam, to build an 80,000-ton LPG refrigerated tank terminal in the Bactienphong Industrial Complex near Haiphong, Vietnam.

E1 and the local partner will each hold a 50% stake. E1 plans to handle stable LPG supply and terminal operations, while the local partner will be responsible for LPG transportation, establishing a business operation system. The LPG refrigerated tank terminal will have a total capacity of 80,000 tons (50,000 tons of propane and 30,000 tons of butane), with construction starting in the first half of next year and commercial operation targeted for 2025.

The refrigerated tank terminal, a temporary storage facility for LPG, is an essential facility for LPG exports. Through this LPG refrigerated tank terminal project, E1 expects to supply more than 1 million tons of LPG annually to the Vietnamese market.

An E1 official said, "This project is E1's first overseas LPG terminal business," adding, "Based on the know-how accumulated domestically, we will enter overseas markets to supply LPG stably while continuously discovering new demand sources to grow into a global energy company."

This content was produced with the assistance of AI translation services.