Published
By Myrna M. Velasco
Two unsolicited
proposals for the planned US$2.0-billion liquefied natural gas (LNG)
infrastructure development chain had already been cast off by state-run
Philippine National Oil Company (PNOC) due to non-conforming submission on the
terms set by the government.
PNOC Board Chairman and
Energy Secretary Alfonso G. Cusi told reporters that the evaluation team of the
state-run company was already assessing the third proposal as of Friday
(January 12).
He did not name the
proponents of the discarded project tenders, but with the seven submissions,
PNOC can now just lean on the ‘appropriateness’ of offers of the other five
investor-groups.
“The first two were
already opened and they’re not acceptable, so they’re already evaluating the
third proposal after discarding the first two,” Cusi said.
On the roll of unsolicited
proposals being evaluated are those of: First Gen Corporation, Lloyds Energy
Group in partnership with Itochu Corporation, Korea Electric Power Company,
China National Offshore Oil Corporation, Indonesian firms PT Jaya Sumadra
Karunia as well as PT Perusahaan Gas Negara LNG/PT Bosowa Corporindo and local
partner MOF Corporation; and that of the World Energy Corporation.
Nevertheless, it was
gathered that the technical working group of PNOC “merely returned and not
rejected” the two proposals, “because they did not comply with the
requirements.” It was previously reported in media that the returned proposals
were those of Kepco and Lloyds Energy, but the latter actually had its
re-submission of offer.
Cusi qualified that if
all seven offers will fail, the next recourse for the government will be to
undertake competitive bidding for the PNOC-led LNG facility build-up plan.
The development
prospect being eyed by the government is either to pursue a joint venture (JV)
deal or build-operate-transfer (BOT) agreement with the chosen private sector
partner.
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