Wednesday, May 3, 2017

First Gen confirms meeting with PNOC to build LNG terminal

By Lenie Lectura -

FIRST GEN Corp. of the Lopez group confirmed last week it has been meeting with state-run Philippine National Oil Co. (PNOC) for the development of a liquefied natural gas (LNG) terminal.
“First Gen confirms our executives have had meetings with PNOC senior management, in which we have discussed the possibility of working together to develop an LNG infrastructure,” it said in a statement.
PNOC President Reuben Lista said last week  First Gen acceded to be PNOC’s minority partner.
“They have been attending our negotiations. They recognize they need us more,” Lista said.
PNOC plans to put up an LNG terminal consisting of an initial 200-megawatt (MW) modular power plant, storage and regasification facilities.
“Our target is 2019, but the most practical will be in the middle of 2020 and 2021,” Lista said.
First Gen said it “welcomes the government’s participation, through PNOC, in enabling an LNG terminal, and further growing the gas industry in the country. We look forward to further talks with PNOC.”
The company said it has been developing an LNG Terminal for the past five years to ensure its 2,000 MW of operating gas plants in Batangas will have LNG to replace Malampaya gas when it runs out and will pave the way for the continued use of gas and the building of more LNG infrastructure.
“An LNG infrastructure is vital to our country’s energy security and we are committed to participate in building world-class facilities consistent with the administration’s thrust to develop the country’s infrastructure,” First Gen said.
First Gen believes LNG infrastructure can be developed not only in Luzon, but also in the Visayas and Mindanao, “which will allow access to gas in the island grids”.

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