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 Government of the Philippines said it was still open to global energy company investors interested in exploration and production ventures in its offshore waters for domestic natural gas to supplement LNG imports amid the extension of the gas-to-power agreement linked to the Malampaya gas field.

The Philippines has entered the LNG importer list in a low-key way after years of planning as a cool-down cargo was delivered to Subic Bay for the Floating Storage Unit (FSU) “Ish” as part of the commissioning of the first LNG terminal in Batangas Bay and a second vessel for a separate project is scheduled to arrive in July.

The Philippines Department of Energy has approved a seventh LNG import project, though the first is not scheduled to come on line until later in 2023 as the southeast Asian nation appears left on the starting line compared with the rapid deployment of infrastructure in Germany in a matter of months rather than the years it's taking to  complete one Filipino regasification venture.

Nov 1 (LNGJ) - Shell completed the sale of its 45 percent shareholding in the Malampaya gas field in the Philippines to Malampaya Energy XP Ltd, a subsidiary of Prime Infrastructure Capital of the Philippines. Shell staff will continue their employment under the new ownership. The other main remaining shareholder in the gas field is local company Udenna Corp.

   “Since operations began in 2002, the Malampaya gas field has supplied an important part of the Philippines’ energy demand through the dedicated work of our partners and staff, past and present,” said Zoe Yujnovich, Shell’s Upstream Director. “This sale supports our strategy to create a resilient and competitive Upstream portfolio,” she added. The Malampaya gas field is in the process of depleting and is increasing the urgency for LNG imports to the Philippines.

The Government of the Philippines is increasing its drive to bring liquefied natural gas import facilities on line to avoid a surge in electricity prices and possible power cuts once the Malampaya natural gas field reserves are depleted by 2024.

Royal Dutch Shell has signed an agreement to exit the depleting Malampaya gas field in the Philippines as the southeast Asian nation advances with several plans for LNG import projects to fuel gas-fired power projects.

First Gen Corp. of the Philippines has chosen BW LNG of Singapore to provide a floating storage regasification unit (FSRU) for its LNG import terminal project at Batangas in Luzon.

First Gen Corp. of the Philippines plans fast-track the LNG and power hub near Batangas City with the interim use of a floating storage and regasification unit to be able to receive LNG as early as the third quarter of 2022 and guarantee energy security for the capital Manila.

Tokyo Gas has confirmed the signing of an agreement with Philippines power company First Gen Corp. to jointly develop a liquefied natural gas import terminal hub project in Batangas province to meet the gas-fired power needs of the capital Manila and the surrounding region.