LNG terminal investments worth Php83B

Klaipeda,lithuania-december,14,2017:,Lng,Carrier,Fsru,Independence,And,Lng,Tanker,Arctic

A total of Php82.9 will be invested for the development of liquefied natural gas (LNG) terminal projects in the country, according to the Department of Energy (DOE).

Lucio Tan’s Batangas Clean Energy leads the six firms that are pouring in capital for the said projects with Php37.6 billion for its three million tons per annum (MTPA) LNG storage and regasification terminal in Batangas City. The project is expected to be delivered by the fourth quarter of 2025. 

Next biggest is First Gen Corporation’s interim offshore terminal, also in Batangas City. The Php13.3 billion project, which would hold 5.26 MTPA of LNG, is slated for completion in 2022. The Lopez-led firm also secured the services of Norwegian firm BW Gas for the charter of a floating storage and regasification unit for the terminal.

Atlantic Gulf & Pacific, will be investing Php15 billion for its venture, while US-based Excelerate Energy L.P. will be spending Php6.39 billion for its 4.4-MTPA terminal, and Shell Energy Philippines will be pouring in Php2.52 billion. All three projects will also be in Batangas.

Meanwhile, Energy World Gas Operations Philippines, Inc. opted not to place its project in Batangas, but rather in Quezon. The firm, according to the DOE, will be building a Php7.41 billion facility.

Energy Asec. Leonido Pulido said that the six firms, which all have Notices-To-Proceed from the DOE, will increase the country’s natural gas supply as resources from the Malampaya gas field are quickly depleting

Other than the six firms, Pulido said another company has expressed its interest to build a new LNG terminal in the country.  

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