Phinma targets completion of Pangasinan import terminal in 2017


Listed Phinma Energy Corp. targets to finish its feasibility study on their planned import terminal for 380 – megawatt (MW) liquefied natural gas power plant in Sual, Pangasinan by the first quarter next year, a company official said.

The feasibility study covers the project scope and the required cost, Phinma Energy senior vice president Raymundo Reyes Jr. said.

“By the second quarter of next year, we will talk with potential partners,” Raymundo told reporters on the sidelines of a groundbreaking activity of a separate project.

The Pangasinan facility was intended to supply gas for power generation including industrial, commercial and transport applications, Trans – Asia Petroleum Corp earlier said.

Reyes added that several potential partnerships have approached Phinma Energy. These companies are interested in either being involved in the terminal or are interested in the power plant or gas supply, he said.

The company official has not given an estimated figure on the project cost, although he cited a cost of $500 million in April.

In previous reports, Trans – Asia Petroleum president Francisco said that while the feasibility study is ongoing, the new administration would have a firm fuel mix policy.

However, the current energy department has yet to issue that mix.

The company remains its interest in local petroleum service contracts and its seeking investment opportunities in Pangasinan, particularly those that involve petroleum assets.