Three more foreign firms submit proposal for LNG terminal project

Three more foreign firms submit proposal for LNG terminal project

Three proposals from foreign firms to put up a $2 billion liquefied natural gas (LNG) terminal was submitted to the government, Energy Department Secretary Alfonso Cusi said.

Proposals from Korea Electric Power Corp. (KEPCO), Lloyds Energy and China National Offshore Oil Co. (CNOOC) were submitted to the Philippine National Oil Company (PNOC), who is DOE’s corporate arm.

“There is a KEPCO, there is Lloyd and there is CNOOC that submitted unsolicited proposals,” Cusi said.

“Actually, they made the proposal to PNOC, not DOE. So they (PNOC) will be the local partner,” he added.

PNOC is open to receive more unsolicited proposals until December 31, PNOC president Reuben Lista said.

“It will take more time to evaluate as it is one by one after the other as promulgated by the PPP (Public-Private Partnership) guidelines,” he said.

The Philippine government is accepting unsolicited bids for the LNG project after talks for a government-to-government (G2G) partnership fell through.

PNOC is tasked to create an integrated LNG hub with storage, liquefaction, regasification, and distribution facility, and a reserve initial power plant capacity of 200 megawatts (MW).

The project looks to secure the gas requirements in the region ahead of the depletion of the Malampaya by 2024.

The Malampaya gas project supports around 3,500 MW gas-fired power plants in Luzon.

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