December 18, 2018 | 12:03 am
IF IT were up
to him, Energy Secretary Alfonso G. Cusi said he would have wanted
“non-performing” companies affiliated to his department to be abolished or
consolidated.
“I want to abolish mga
things that are not performing, mga offices that are not performing like
sabi ko nga kay Admiral, mabuti pa isara na natin ang PNOC
(Philippine National Oil Co.) kung ganyan ang ginagawa natin (I want to
abolish things that are not performing, offices that are not performing, like
what I’ve said to the admiral, it would be better if we close PNOC if that’s
what we are doing),” he told reporters in an informal gathering with other
Energy officials.
Mr. Cusi was referring
to retired Admiral Reuben S. Lista, president and chief executive officer of
PNOC, who first announced the company’s liquefied natural gas (LNG) terminal
project but has yet to find a partner that will provide capital.
Last month, PNOC
announced that it had “postponed until further notice” the process of selecting
a partner for the LNG terminal project. The company is attached to the DoE,
with the secretary as its ex-officio chairman.
Mr. Cusi had envisioned
the project to transform the country into a regional LNG hub, saying that it
had been performing as one.
In a notice posted on
its website dated Nov. 21, 2018, PNOC said it had postponed the pre-eligibility
activity that was supposed to be on Dec. 4. It also postponed the submission
date of eligibility documents.
Mr. Cusi has expressed
disappointment over the performance of PNOC, which lagged behind private
entities in advancing the LNG project.
Thus far, Phoenix
Petroleum Philippines, Inc. and its Chinese partner China National Offshore Oil
Corp. had submitted a proposal with details on technical, financial and legal
qualifications.
First Gen Corp. announced
earlier this month that it had signed a joint development agreement with Tokyo
Gas Co., Ltd. to pursue the joint development of an LNG terminal at the
Lopez-led company’s Batangas Clean Energy Complex.
Meanwhile, the local
unit of Australia-listed Energy World Corp. Ltd. said it had revived talks with
lenders to finance the completion of its 650-megawatt (MW) combined cycle
gas-fired power plant.
Mr. Cusi said if it
were up to him, he would proceed with the project even ahead of finding a
partner with the funding. He said PNOC had no notable accomplishment even if it
has funding because its charter requires it to seek congressional approval for
funding.
“Sabi ko sa kanila
sa board: you know if I were you, if I were PNOC and I own PNOC as a
businessman, ibinibigay ang LNG terminal na ‘yan, gagawin ko nalang
‘yan… Kung ako dedesisyunan ko ‘yan. (I told them in the board: you know if
I were you, if I were PNOC and I own PNOC as a businessman, and that LNG
terminal is being offered, I’d just do it … If it were up to me, I’d decide on
it.),” he said.
Mr. Cusi said he would
prefer that consolidation of PNOC along with its subsidiaries PNOC-Exploration
Corp. and PNOC-Renewables Corp.
“Pero (But) I
want to assure, I want to say that it’s not as simple as that,” he said, citing
the personnel of the companies who might lose their jobs.
Also, only Congress can
abolish a government-led company through legislation. — Victor V. Saulon
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