En Español



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

Philippines shortlists six countries to partner with in $2 bln LNG hub


MANILA
Petroleumworld 07 21
2017

The Philippines has shortlisted six countries and will choose one from them as a partner for its planned $2-billion receiving and distribution facility for imported LNG, an official from the state-run energy firm PNOC said on Thursday.

The countries that have been shortlisted are China, Japan, South Korea, Singapore, Indonesia and the United Arab Emirates, said Arwin Ardon, head of the team at the Philippine National Oil Company (PNOC) that is overseeing the project.

The construction of the project, which includes a 5 million tonnes-per-annum storage facility, could be completed by 2020, or four years before the country's Malampaya natural gas field is depleted, Energy Secretary Alfonso Cusi said last month.

The Philippines' energy demand is set to triple by 2040, with electricity requirements anticipated to grow four times from 2015. To support this spike, the country needs to step up power generation capacity by 7,000 megawatts over the next five years and wants foreign investors to help.

"(The LNG project) is a complete package with storage facility, regasification, a power plant that is scalable up to 1,000 megawatts (MW), and redistribution," Ardon told reporters on the sidelines of a power industry conference. The power plant will initially have a capacity of 200 MW.

Philippines aims to start importing liquefied natural gas (LNG) before Malampaya gas, currently used to produce a fifth of the country's power supply, runs out by 2024.

Ardon said PNOC was looking to use government-owned banked or unused gas from Malampaya, currently valued at about $640 million, as equity for the LNG project, together with the government land where the facility will be built.

On the government-to-government partnership for the project, Ardon said PNOC was pushing for a 60-40 equity arrangement, with the Philippines taking a controlling interest. However, he did not give a timeline on when a partner would be chosen.

Ardon named local electricity producer First Gen Corp as a potential LNG buyer.

First Gen, which owns four Malampaya gas-powered plants with a total capacity of 2,011 MW, could also invest in the LNG hub, possibly taking a portion of PNOC's 60 percent stake, he added.

Several companies, including First Gen and the local unit of Royal Dutch Shell Plc which operates Malampaya, had planned to build LNG storage facilities in the Philippines before the government came up with its own project.

Australia-listed Energy World Corp Ltd has built LNG facilities, including a power plant, in eastern Quezon province, but commercial operations are yet to start.



Reporting by Enrico dela Cruz; Editing by Himani Sarkar from Reuters.

reuters
.com
07 20 2017

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels


Round 2.2 & 2.3
Results

 

 

 

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.