Wedoany.com Report-Nov. 14, Petrovietnam Chemical and Services Corporation (PVChem), part of the Vietnam National Industry and Energy Group (Petrovietnam), and German industrial gases specialist Messer SE & Co. KGaA (Bad Soden, Germany) have officially signed a Joint Venture Agreement to establish Cái Mép Industrial Gases Co. Ltd. The joint venture plans to build an industrial gas production plant at Cai Mep Industrial Park, Cái Mép Ward, Ho Chi Minh City, with an annual capacity of 200,000 metric tons and an estimated investment of $35 million. Construction is scheduled to begin at the end of 2026, with commercial operation expected by the end of 2028.

The Cái Mép facility is designed following green and circular economy principles. It will use cold energy from PVGas’ LNG storage system to provide deep refrigeration for the gas separation process. This project forms a strategic link in Petrovietnam’s LNG–industrial gas–clean energy value chain, aiming to enhance energy efficiency, reduce greenhouse gas emissions, and optimize the use of existing gas infrastructure.

The plant will apply European Cryogenic Air Separation (CAS) technology, incorporating recovery of cold energy generated during LNG regasification. This approach reduces electricity and cooling water consumption, thereby lowering indirect greenhouse gas emissions and improving environmental performance.

The project represents a pioneering step in energy transition and circular economy for both Petrovietnam and Messer. It contributes to Vietnam’s national energy strategy while demonstrating Messer’s commitment to low-carbon, energy-efficient industrial gas production.

Le Manh Hung, Chairman of Petrovietnam, said: “The Messer – PVChem Joint Venture Project is a concrete step in realizing Petrovietnam’s green energy and circular economy strategy, aligning with Vietnam’s carbon neutrality goals.”

Bernd Eulitz, CEO of Messer SE & Co. KGaA, added: “Messer is proud to partner with PVChem and Petrovietnam to deliver its first cold energy recovery solution for air separation units worldwide – an innovation that optimizes energy efficiency and fully complies with European environmental standards.”

Stefan Messer, Chairman of the Supervisory Board of Messer SE & Co. KGaA, noted: “This is an exciting opportunity for Vietnam’s industry to reduce greenhouse gas emissions by using low-carbon industrial gases essential for many economic and medical fields.”

Truong Dai Nghia, Chairman of PVChem, said: “The joint venture with Messer is a strategic step for PVChem to expand into green manufacturing, enhancing internal linkages within Petrovietnam and promoting sustainable value chains.”

The Cái Mép Industrial Gases plant is expected to serve multiple sectors, including energy, industrial, and medical applications, while providing a model for environmentally responsible industrial development. By integrating advanced technology, energy recovery, and circular economy practices, the project aims to set new standards for sustainable industrial gas production in Vietnam.