LNG

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.

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.

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.