MANILA, Philippines—The country’s natural gas program may finally get the boost it needs as two foreign investors and one local proponent have submitted separate proposals to put up liquefied natural gas terminals and power plants.
On the sidelines of Infrastructure Philippines 2010, Energy Secretary Jose Rene D. Almendras disclosed that these three companies wanted to put up LNG facilities, which may also include a distribution component, in Bataan, Southern Luzon and Davao.
While he did not name these investors, Almendras said that one plans to source natural gas from Australia, while another said it owned a gas field in the same country. The local proponent, he added, may be backed by foreign investors.
“We’re still evaluating (these proposals), that’s why we’re making announcements so that people will know we’re open for it. We’re looking for the best possible configuration,” Almendras said.
The energy chief also said that state-run Philippine National Oil Co. (PNOC) had expressed willingness to form joint ventures or partnerships with these prospective investors should proposals call for government participation.
Meanwhile, a study by the World Bank showed that Sarangani and Davao may be two of the best sites for LNG facilities because of their proximity to possible import sources, such as Australia and Papua New Guinea. The fact that Mindanao badly needs additional power is also a factor.
Data from the DOE showed that at least $5 billion should initially be invested between 2009 and 2014 to fully develop the country’s downstream natural gas industry. These investments would primarily go to the construction of natural gas pipelines in Luzon and gas-fired power plants.
Specifically, investments are needed to construct 423 kilometers of transmission and 504 square kilometer of distribution pipelines.
Priority projects include the 140-kilometer pipeline from Bataan to Manila (BatMan 2) and the 40-km EDSA-Taft loop.—Amy R. Remo
No comments:
Post a Comment