Tokyo Gas Co., Ltd. has signed a joint cooperation agreement (JCA) with First Gen Corporation of the Republic of the Philippines.
The two companies entered into a joint development agreement (JDA) on 5 December 2018, and have been developing an Interim Offshore LNG Terminal in Batangas City, Southern Luzon Island.
With the JCA, the parties will transition to the construction of a floating storage and regasification unit (FSRU), with the aim of introducing LNG to the Philippines as early as 2H22.
Under the terms of the JCA, the two companies will jointly construct, operate, and maintain the Interim Offshore LNG Terminal which includes converting the existing jetty into a multi-purpose jetty and constructing an adjunct onshore gas receiving facility. Tokyo Gas will take a 20% participating interest in the construction and operation of the project. The Department of Energy of the Republic of the Philippines granted a permit to construct the Interim Offshore LNG Terminal on 23 September 2020.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09102020/tokyo-gas-signs-jca-with-first-gen-corporation/