Iris Gonzales (The Philippine Star)
- June 26, 2018 - 12:00am
MANILA, Philippines — Davao-based
businessman Dennis Uy is now identifying potential sites for his planned LNG
terminal as he aims to become the first LNG proponent in the Philippines, a
goal that would pit him against other veteran power players in the country such
as the Lopez Group and Phinma.
LNG or liquefied natural gas is
natural gas that has been converted into liquid for ease of storage or
transport.
Uy said his flagship Phoenix
Petroleum is partnering with the CNOOC Group, China’s largest offshore oil and
gas company, for the planned LNG terminal and power plant.
Phoenix expects to complete its
feasibility study on the proposed project by the end of the year.
Phoenix is also in talks with the
Philippine National Oil Co. (PNOC) for the LNG project, Uy added.
Meanwhile, PH Resorts Group, the
holding company for Uy’s hospitality and gaming businesses, is pouring in at
least $200 million for its second casino in Clark, Pampanga.
Uy’s first casino is the $341
million Emerald Resort and Casino, which will rise on a 12.5-hectare prime
beachfront property on Mactan Island in Lapu-Lapu City, Cebu.
Aside from the two casinos, PH
Resorts will also develop a hotel in Panglao and an events place in Davao.
“The one in Davao will be a joint
undertaking with Enderun Coilleges,” PH Resorts president Raymundo Escalona
said.
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