Reuters is reporting that First Gen Corp., of the Philippines, has held a ground-breaking ceremony and finished the pre-development work for its new LNG terminal. The terminal is a joint venture (JV) project with Tokyo Gas.
The project, located in Batangas province, will reportedly be ready to take a final investment decision by late 2019 or early 2020, having recently been declared ‘construction ready’. Once operational, the terminal will facilitate the importation of LNG, providing greater natural gas supply security to counter the issue of the Malampaya gas reserves being depleted by 2024.
First Gen’s project is one of three of its kind currently being constructed in the Philippines. The other two are Energy World Corp’s LNG hub project in Pagbilao; and Phoenix Petroleum Philippines Inc. and CNOOC Gas and Power’s US$2 billion LNG hub project, also located in Batangas.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/28052019/first-gen-and-tokyo-gas-begin-construction-of-jv-lng-project/