Danessa Rivera (The Philippine Star)
- January 8, 2020 - 12:00am
MANILA, Philippines — State-run
Philippine National Oil Co. (PNOC) is open to partner with companies interested
to invest in the country’s liquefied natural gas (LNG) projects.
Partnership with prospective
investors will allow the government to monitor developments in the LNG sector,
PNOC president Reuben Lista said.
In February last year, PNOC had
signed a memorandum of understanding (MOU) with Dennis Uy-led Phoenix Petroleum
Philippines Inc. and CNOOC Gas and Power Group Co. Ltd. to explore and discuss
business opportunities and cooperation in relation to the equity investment in
Tanglawan.
The MOU will also allow PNOC to
provide a strategic alliance in further developing the Tanglawan LNG project,
with the government-run corporation’s involvement in the areas of pipeline
infrastructure and franchise, banked gas, equity, and other marketing
opportunities.
However, towards the end of the
year, Phoenix Petroleum and CNOOC had separately asked the Department of Energy
(DOE) to suspend their request for permit extension for Tanglawan’s planned LNG
terminal.
This is because of the entry of
Udenna Corp. – which is also led by Uy – in the Malampaya deep
water-gas-to-power project through the acquisition of Chevron Philippines
Ltd.’s 45 percent participating stake.
But even before the request to
suspend the Tanglawan project, PNOC has been partnering with foreign companies
to invest in various oil and gas infrastructure projects in the country.
PNOC had signed an MOU with China
Petroleum Pipeline Engineering Co. (CPP) to jointly pursue liquefied natural
gas (LNG), refinery, and oil depot projects all over the country.
CPP is a unit of state-run China
National Petroleum Corp. which specializes in pipeline engineering and
construction.
PNOC also signed an MOU with
Israel-based Ratio Petroleum Ltd. to pursue possible joint oil and gas
exploration projects in the country.
The MOU seeks to establish
cooperation between the two parties to conduct research and feasibility studies;
exchange of technical information, including coordination to facilitate
necessary permits and clearances; and sharing of technical resources and
capabilities for project development.
The state-run firm also signed an
MOU with Dubai-based Lloyds Energy to explore cooperative ways for the
development of LNG facilities and natural gas generation plants and other
related activities in government properties in Limay, Bataan, Bauan, Batangas,
and Mabini, Batangas.
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