The Department of Energy of the Philippines has given its approval to First Gen to build an interim offshore LNG terminal in Batangas City. The initial phase of the LNG terminal project will consist in a floating storage and regasification unit (FSRU), which is slated to come on stream by the third quarter of 2022. First Gen Corporation has set aside US$300m of its 2020-2021 investment budget for its project and wil issue a binding invitation to tender for a FSRU; so far, BW Gas, GasLog LNG, and Hoegh LNG have expressed interest in providing the FSRU.
In March 2019, First Gen and the Japanese utility Tokyo Gas secured a notice to proceed (NTP) for the construction and operation of a new 5 Mt/year (6.75 bcm/year) LNG import and regasification terminal south of Manila (Philippines). The two companies will develop the project to meet the gas needs of existing and future gas-fired power plants in Batangas province, as domestic supply from the Malampaya field in northern Palawan will cease its output by 2024.
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