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.

JERA Co. Inc., the largest Japanese utility and liquefied natural gas importer, has decided to acquire a 27 percent stake in Aboitiz Power Corp. for $1.58 billion to partner with the major utility in the Philippines as the Asian nation builds out LNG and gas-fired power projects.