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First Gen awards contract to Tokyo Gas

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LNG Industry,

First Gen Corp. (FGEN) has concluded its international tender for an LNG cargo by awarding a contract to TG Global Trading Co., (Tokyo Gas). Tokyo Gas will supply one LNG cargo of approximately 125 000 m3 with delivery in July 2024 on a delivered ex-ship (DES) basis to FGEN’s wholly-owned subsidiary, First Gen Singapore Pte. Ltd (FGEN Singapore).

The LNG cargo to be provided by Tokyo Gas will be delivered by an LNG carrier which will be unloaded into the storage tanks of the BW Batangas FSRU that is currently berthed at the First Gen Clean Energy Complex (FGCEC) in Batangas City. The LNG will be utilised by FGEN’s existing gas-fired power plants which are also located in the FGCEC.

FGEN has a portfolio of four existing gas-fired power plants with a combined capacity of 2017 MW that have been supplied for many years with gas from the Malampaya field, an indigenous offshore gas field. FGEN LNG Corp. has constructed its interim offshore LNG terminal and executed a five-year time charter party for the charter of the BW Batangas, which will provide LNG storage and regasification services.

The FGEN LNG terminal will accelerate the ability to introduce LNG to the Philippines, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN’s affiliates. FGEN believes the FGEN LNG terminal will play a critical role in ensuring the energy security of the Luzon Grid and the Philippines.

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