The Luzon LNG project will provide natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon, including the area of Metro Manila. Excelerate claims this gas supply will augment the existing gas production from the domestic Malampaya fields, as reserves from these fields start to deplete.
Excelerate Energy Chief Commercial Officer, Daniel Bustos, said: “We are pleased to have received this significant approval from the Government of the Philippines in supporting the country's long-term energy objectives – this is an important milestone to move the project forward.
“We look forward to working with the government and private sector for the successful completion of the project that will enable Excelerate to invest in critical infrastructure allowing the country to continue on its current path of tremendous economic growth.”
According to the statement, the proposed project will be located offshore the city of Batangas in order to minimise the impact to the existing shipping traffic in the area and coastline. The terminal will make use of Excelerate's state-of-the-art offshore technology specifically designed to perform in extreme weather conditions, like those of the Philippines, and has been proven at Excelerate's operations in the Gulf of Mexico, the North Atlantic, Israel, and most recently, the Bay of Bengal.
Bustos added: “We commend the Government of the Philippines for requiring the structure of the project to include the challenging integration of LNG supply, technical procurement and implementation, and user agreements to the benefit of the country. Excelerate is the only company with the experience to deliver all that is required for this complex project – this will not be our first time.
“We are in the unique position to offer the most industry experience to the Philippines to deliver a safe, efficient, and reliable project.”
The project will combine all elements required to meet the region’s natural gas requirements, including a fully integrated turnkey floating LNG terminal, arranging the necessary supply of LNG, and distribution of natural gas to end-users across Luzon. Excelerate will be responsible for developing, designing, permitting, constructing, financing and operating the terminal.
Following the NTP, Excelerate claims it will seek the necessary permits and raise financing for the project.
Read the article online at: https://www.lngindustry.com/regasification/26092019/excelerate-receives-notice-to-proceed-for-floating-lng-import-terminal/