The Department of Energy (DOE) has scheduled the final approval of First Gen Corporation’s liquefied natural gas terminal project this week.
The Centralized Review and Evaluation Committee (C-REC) will give the go-signal within this week. It will be then passed for signing to Energy Secretary Alfonso F. Cusi so the notice-to-proceed can be issued after.
According to a Manila Bulletin report, Energy Undersecretary Felix William B. Fuentebella said that First Gen’s application for NTP is nearing its completion and it is highly possible that it would be given the go-signal.
He also mentioned that US firm Excelerate Energy’s application might be disapproved due to its lack of document-submissions.
“It (First Gen application) has to be presented first to C-REC, and it is alive” and will have “desirable outcome,” he stressed.
He further explained that the two applications will be presented to C-REC this week. However, only First Gen’s application is seen to have a positive recommendation.
“In the end, it will be up to C-REC to evaluate the proposals – they might see some other factors though that it (Excelerate application) could still be considered, so it (approval) has to be formalized,” the energy was quoted in the same Manila Bulletin report.
The firm initially cast US$1.0-billion investment for its 5.0 mtpa onshore LNG import terminal, which we located near its gas-fired power plants in Batangas.
First Gen also signed a joint development agreement with Tokyo Gas Co. Ltd last December, which allows Tokyo Gas to receive a 20 percent equity in the project’s corporate vehicle FGen LNG.