Philippines' First Gen starts work on LNG terminal JV project
First Gen Corp, a Philippines-based clean energy producer, said it has completed “significant pre-development work” for its planned liquefied natural gas (LNG) terminal, which is a joint venture project with Tokyo Gas Co Ltd.
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| Source: EWA |
First Gen, which operates four power plants with a combined capacity of 2,000 megawatts relying completely on natural gas from the country’s Malampaya gas field, also held a ground-breaking ceremony for the project.
The company plans to ensure availability of imported gas for its power plants ahead of an expected depletion in Malampaya’s gas reserves by 2024.
First Gen said its LNG site near its power plants in Batangas province is now “construction-ready” and a final investment decision may be made by late 2019 or early 2020.
First Gen’s LNG project is one of the three in the pipeline in the Philippines.
Australia-listed Energy World Corp’s LNG hub project in Pagbilao province is now almost complete, its Managing Director and Chief Executive Stewart Elliott told Reuters last week.
Phoenix Petroleum Philippines Inc and Chinese partner CNOOC Gas and Power signed a deal in March adding state-owned Philippine National Oil Company to their planned $2 billion LNG hub project also in Batangas. (Reporting by Enrico dela Cruz; Editing by Rashmi Aich)
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