By
Lenie Lectura - August 23, 2019
FGEN
LNG, a wholly-owned subsidiary of First Gen Corp., is seeking an extension of
its notice to proceed (NTP) for its FGEN Batangas LNG (liquefied natural gas)
terminal project.
The NTP granted to FGEN
LNG took effect on March 7, 2019, and will expire on September 7.
The Lopez-led firm said
Thursday it has requested the Department of Energy (DOE) for an extension of
the NTP. Pursuant to DOE Circular 2017-11-0012 (Rules and Regulations Governing
the Philippine Downstream Natural Gas Industry), the NTP is subject to a
six-month extension upon application with and approval by the DOE.
First Gen will
construct an LNG terminal in the First Gen Clean Energy Complex 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 approximately 2,000 MW 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.
The company broke
ground for its LNG project last May.
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