By MST Business | Nov. 16, 2014 at 11:20pm
Marubeni Corp. of Japan has offered to put up a 200-megawatt natural gas plant at no cost to the government to help address a looming power shortage in 2015.
Energy Secretary Carlos Jericho Petilla said Marubeni sought an assurance of a “good price” for the natural gas from the Malampaya field in northwest Palawan to fuel the proposed power plant.
Marubeni is a member of the TeaM Energy Philippines joint venture that includes Tokyo Electric Power Corp. of Japan. TeaM Energy operates the Pagbilao and Sual coal power plants in Quezon and Pangasinan, respectively.
TeaM Energy also has a 20-percent stake in the 1,200-MW Ilijan natural gas plant in Batangas.
“The offer of Marubeni is they want to put up a merchant plant at no cost to government but on condition that they be given a good price for the gas because they will just have to pipe it,” Petilla said.
Petilla said he had informed Marubeni that the government would not be able to offer the 150 MW to 200-MW banked gas of PNOC Exploration Corp. because the reserve must go through a competitive public bidding.
“I can’t give them the banked gas banked it has to be bid out… Otherwise I might go to jail for it,” the energy official said.
Petilla suggested to Marubeni to negotiate with Shell Philippines Exploration B.V., operator of the Malampaya gas facility, for its owned banked gas estimated at 150 MW to 200 MW.
Petilla said he was still waiting for Marubeni to come up with its proposed pricing on the Malampaya gas before setting it up with a meeting with Spex.
“The problem is the [Malampaya] consortium said the gas is only available after April 2015 when the pressure at the Malampaya gas field normalizes… They cannot pull out the gas until end of the year,” Petilla said.
He suggested to Marubeni to run the plant using diesel pending the availability of the gas.
Marubeni Philippines Corp., which represents Japan’s Marubeni, is a 100-percent subsidiary of Marubeni Asean Private Limited.
Marubeni Philippines services clients with its extensive global network of human, financial and technological resources.
Its operations encompass domestic, import, export and offshore trade, turn-key project management, risk management, finance logistics and build-operate-transfer projects.
It has been in the Philippines for over 100 years seeking to aggressively promote infrastructure projects, attract foreign investments and enhance agriculture-related businesses and other basic industries. source
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