First Gen unit selects 2 bidders for project

By Eireene Jairee Gomez March 20, 2021
https://www.manilatimes.net/2021/03/20/business/companies/first-gen-unit-selects-2-bidders-for-project/853434/

FGEN LNG Corp. (FGEN LNG), a subsidiary of Lopez-owned First Gen Corp., on Friday said it has selected two preferred tenderers to continue on to the next stage of its binding tender process for the charter of a floating storage regasification unit (FSRU) for the firm’s interim offshore liquefied natural gas (LNG) terminal project in Batangas.

In a disclosure to the Philippine Stock Exchange, First Gen named the two preferred tenderers — BW Gas Limited and Hoegh LNG Asia Pte Ltd., which have been informed that FGEN LNG intends to select the FSRU provider by the end of March 2021.

The Batangas LNG Project will allow FGEN LNG to accelerate its ability to introduce LNG to the Philippines as early as the third quarter of 2022, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.

An FSRU is a liquefied natural gas carrier (LNGC) that is capable of storing LNG that has an onboard regasification plant capable of returning LNG into a gaseous state, and then supplying it directly into the gas network.

A typical FSRU has a storage capacity of between 125,000 and 170,000 cubic meters.
According to the International Gas Union World LNG Report-2020 Edition, approximately 6 percent of the global fleet of 541 LNGC vessels operate as FSRUs as of the end of 2019.

BW Gas Ltd. is a wholly-owned subsidiary of the BW Group, and is involved in the global market of transportation and floating regasification services of LNG, including construction, ownership, and operation of FSRUs and other LNGCs. The company provides integrated solutions to clients across the LNG value chain.

In the other hand, Hoegh LNG Asia Pte Ltd. is a wholly-owned subsidiary of Hoegh LNG Ltd., which is a wholly-owned subsidiary of Hoegh LNG Holdings. Listed on the Oslo stock exchange, Hoegh LNG Asia specializes in the global market of transportation and floating regasification services of LNG, including the construction, ownership and operation of FSRUs and LNGCs.