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Tokyo Gas and First Gen sign preliminary agreement to build LNG import terminal

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LNG Industry,

According to Reuters, First Gen Corp. – a Philippine power company – and Tokyo Gas Co. have signed a preliminary agreement to jointly develop an LNG import terminal in the Philippines.

Reportedly, Tokyo Gas is set to take a 20% interest in the project. Reuters claims that the project will be located in First Gen’s LNG complex, which itself is located in Batangas province.

According to Reuters, it is expected that the Philippines will commence LNG imports in order help mitigate the effects of the dwindling Malampaya field, which is set to run out of gas in 2024.

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