Published
By Myrna M. Velasco
New York-headquartered
New Fortress Energy is the latest investor that approached the Department of
Energy (DoE) for prospective investment in an onshore liquefied natural gas
(LNG) import terminal to be integrated with a gas-fired power facility.
Beyond the LNG terminal
and power plant component, one technology solution that the company has been
offering is on LNG-powered trains – which the Philippines may be enticed to tap
in line with the rail systems being developed under the Build, Build, Build
infrastructure development paradigm of the Duterte administration.
The executives of the
American firm are in the country this week and have held meetings with the DoE
and state-run Philippine National Oil Company (PNOC) on targeted LNG
investments.
“They (executives of New Fortress Energy) came this morning (on Tuesday) and we
referred them to PNOC,” Energy Secretary Alfonso G. Cusi has confirmed.
The energy department
indicated that one potential partnership the New York firm has been pursuing is
with PNOC, the state-owned energy company which has been reviving its abruptly
interrupted foray into LNG projects.
So far, this is the
second American energy firm advancing targeted ventures in the country’s gas
sector – the other one had been Texas-based Excelerate Energy which had applied
for notice-to-proceed (NTP) with the DoE for its propounded floating storage
regasification unit (FSRU) LNG facility.
New Fortress Energy
reportedly indicated to the DoE that it has customized solutions for various
LNG projects, including supply of gas; conversion of existing plants into
gas-fired assets as well as development of greenfield LNG power facilities.
But as had been enforced on all other project proponents for LNG import
terminals, the American firm will also need to file its application for NTP
with the energy department before it can be given go-signal to implement
planned projects.
If the company will
partner with state-run PNOC, among those that the latter could bargain in the
negotiating table is its offer of project site; and it has likewise been
dangling its ‘banked gas’ into the business deal.
Just last month, PNOC
signed its memorandum of understanding (MOU) with Dubai-based firm Lloyds
Energy for targeted FSRU project that will also integrate power plant
component.
Project details of that
targeted venture had not been unveiled yet to the media – except on the plan to
prospectively install up to 1,000 megawatts of gas-fired power capacity.
While there are various companies now setting their sights on LNG projects in
the Philippines, it remains to be seen which ones will really advance and make
it to the finish line or which ones would be able to achieve commercial
operations of targeted facilities.
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