Petrovietnam Chemical and Services Corporation (PVChem), a member of the Vietnam National Industry and Energy Group (Petrovietnam), and the German industrial gases specialist Messer SE & Co. KGaA  officially signed a Joint Venture Agreement to establish Cái Mép Industrial Gases Co. Ltd. The joint venture to invest in and develop an industrial gas production plant at Cai Mep Industrial Park, Cái Mép Ward, Ho Chi Minh City, with a capacity of 200,000 tons per year and a total investment of approximately 35 million USD. Construction is expected to begin in the end of 2026, with commercial operation in the end of 2028.

The Cái Mép plant is designed in alignment with the green and circular economy models, utilizing cold energy from the LNG storage system of PVGas to provide deep refrigeration for the gas separation process. This facility serves as a strategic link in Petrovietnam’s LNG–industrial gas–clean energy value chain, contributing to enhanced energy efficiency, reduced greenhouse gas emissions, and optimized use of existing gas infrastructure.

The project applies European Cryogenic Air Separation (CAS) technology, combined with recovery of cold energy generated during the LNG regasification process. This solution significantly reduces electricity and cooling water consumptions, thereby lowering indirect greenhouse gas emissions and improving overall environmental performance.

This is not only a pioneering project in energy transition, green economy, and circular economy — linking the value chain of Petrovietnam and implemented by PVChem to contribute to the national energy strategy but also a pioneering project for the industrial gases specialist Messer, demonstrating its strong commitment to the green production transition by reducing greenhouse gas emissions and saving energy (electricity and water).

Le Manh Hung – Chairman of Petrovietnam, emphasized: “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, shared: “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, added: “This is an exciting opportunity for Vietnam’s industry to reducing greenhouse gas emissions by using low-carbon industrial gases essential for many economic and medical fields.”

Truong Dai Nghia – Chairman of PVChem, stated: “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.”

About Petrovietnam
2025 marks the 50th anniversary of Petrovietnam's establishment and development. Spanning half a century, Petrovietnam is currently the number 1 economic group in Vietnam, playing a pillar role in economic development and ensuring national energy security. With strong financial potential and an 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: Energy - Industry - Services.

About PVChem
PVChem, a member of Petrovietnam, operates in oilfield chemicals, technical services, green manufacturing, and renewable energy. With over 35 years of development, PVChem aims to become a regional leader in chemical and industrial services, pioneering in green transition and circular economy development.