AG&P launching $600M in new LNG projects in Ph, US, India

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Atlantic Gulf & Pacific Company (AG&P) is launching $600 million in new liquefied natural gas (LNG)-related projects in the Philippines, the United States, India, and other countries, the company told Power Philippines on Monday.

The investment forms part of the company’s $770 million total contracted backlog of projects. Of that amount, $550 million (Php26.6 billion) is reported to be in the Philippines, where the company would work on five projects.

Meanwhile, the balance includes three floating storage and regasification units, which will be used for the Asian market, and a project in the US that will involve sending workers from the Philippines to the US.

“AG&P’s Construction Business is forecast to have its best year. It is a ground-breaking year for AG&P as it participates in critical infrastructure projects particularly in Asia-Pacific, that will accelerate commercial development, create jobs, clean air and trigger overall economic and social progress,” AG&P Chairman Augusto Gan said in a statement.

Last month, AG&P was issued the Notice to Proceed by the Department of Energy to develop its Philippines LNG import and regasification terminal near the Ilijan gas-fired power plant in Batangas City. 

The firm also recently awarded a contract to Houston, Texas-based McDermott International for the engineering, procurement, and construction of an LNG storage tank for the project.

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