LNG

Energy World Corp., the Australian-listed developer of LNG and power projects in the Philippines and Indonesia, has apologised to shareholders for the slow progress and pointed out that just by almost standing still the assets had gained in value.

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.

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.