LNG

The Philippines aims to increase liquefied natural gas import capability through a joint venture formed by three of the largest Filipino power companies to acquire one of the nation’s two operating LNG import facilities as the economy grows.

The Japan Bank for International Cooperation (JBIC) said it helped JERA Co. Inc., the largest Japanese utility and LNG importer, to acquire a 27 percent stake in Aboitiz Power Corp. of the Philippines for $1.58 billion.