Tokyo Gas and FirstGen will develop Batangas LNG terminal (Philippines)
Japanese utility Tokyo Gas and the Philippines-based company First Gen Corp. have signed a Joint Development Agreement (JDA) for the regarding the construction and operation of a new LNG import and regasification terminal in Batangas.
The two companies now needs to seek for financing to make final investment decision (FID) for the project that is currently estimated at around US$2bn.
Once built, the terminal may also become an important LNG trade hub in the region. It is expected to meet the gas needs of the 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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