By Lenie Lectura -March 20, 2019
FIRST Gen Corp. of the Lopez group
on Wednesday said it received from the Department of Energy (DOE) the notice to
proceed for its planned FGEN Batangas liquefied natural gas (LNG) terminal.
“FGEN LNG Corp. [FGEN LNG], a wholly
owned subsidiary of First Gen Corp. [First Gen], earlier on Tuesday received
the formal approval of its application for a notice to proceed [NTP] from the
Department of Energy [DOE], as defined in and required by the Philippine
Downstream Natural Gas Regulation [PDNGR]. The application was for the
construction of the FGEN Batangas LNG Terminal Project to be located in the
First Gen Clean Energy Complex in Batangas City,” it said.
First Gen will construct an LNG
terminal in Batangas City with its partner Tokyo Gas Co. Ltd.
Under the deal, Tokyo Gas will take
a 20-percent participating interest in the FGEN LNG project and provide support
in development work to achieve a final investment decision (FID).
Once an FID is reached, the parties
will enter into a definitive agreement to proceed with the construction of the
FGEN Batangas LNG terminal project.
First Gen is one of the biggest
independent power producers in the country and the leading gas-power generation
company in the Philippines with about 2,000 megawatts in operating gas assets
composed of four gas-fired power plants—the 1,000-MW Santa Rita Power Plant,
the 500-MW San Lorenzo Power Plant, the 414-MW San Gabriel Power Plant and the
97-MW Avion Power Plant, all of which currently operate on Malampaya gas
supply.
“The FGEN Batangas LNG Terminal
Project is intended to serve the natural gas requirements of existing and
future gas- fired power plants of third parties and FGEN LNG affiliates,” it
said.
First Gen’s onshore storage and
regasification terminal will have a capacity to supply a minimum 5 million tons
of natural gas equivalent to 5,000 MW and is expected to cost over $1
billion.
No comments:
Post a Comment