With the depleting resources in the Malampaya gas field, the Department of Energy (DOE) has given the green light to four companies to build liquefied natural gas (LNG) terminal projects.
The companies are Lopez-owned First Gen Corporation, Excelerate Energy, Batangas Clean Energy, and Energy World Corporation.
Energy Secretary Alfonso Cusi said that five firms had applied with the DOE to build LNG facilities.
First Gen, meanwhile, recently tapped Australia-based McConnell Dowell as its engineering, procurement, and construction contractor for its LNG import terminal project.
In a keynote speech at a conference organized by the Japanese government, Cusi said that its go-signal to the four companies is part of DOE’s commitment to develop the Philippines as an LNG hub in Southeast Asia.
Malampaya’s reserves are expected to be depleted as early as 2024.