LNG

First Gen Corp., the leading power company in the Philippines and a new liquefied natural gas importer, has awarded a cargo tender to Chinese major China National Offshore Oil.

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 Philippines is gradually increasing its activities in the liquefied natural gas trading and tender market with the Singapore-based unit of commodities firm Trafigura winning the latest Filipino cargo tender.

First Gen Corp., the utility and energy group in the Philippines delivering the southeast Asian nation’s second floating LNG import terminal, concluded an international tender deal for an LNG commissioning cargo with Shell Eastern Trading.

June 23 (LNGJ) - The “BW Batangas”, the second floating storage and regasification unit (FSRU) chartered for a company in the Philippines for an LNG import terminal, has arrived at Batangas Bay, according to shipping data, for an LNG import project with commercial start-up before September.

   The vessel with 162,500 cubic metres of capacity, the renamed “BW Paris”, has been chartered from BW LNG of Singapore by a venture led by Filipino power company First Gen Corp., which has also tendered for a commissioning cargo. The first Philippines floating LNG project started earlier in 2023 and is suppling another local power company SMC Global Power Holdings. This project involves the LNG floating storage unit “Ish” as part of a venture developed by Atlantic, Gulf & Pacific Company near Batangas Bay.