Philippine energy chief says 4 LNG projects still on track despite virus delays

By Enrico Dela Cruz
MANILA, Aug 27 (Reuters) - Four LNG import terminal projects
in the Philippines are currently in various stages of approvals
and financial closures, still on track despite "minor delays"
caused by the coronavirus restrictions, the country's energy
chief said on Thursday.
The Southeast Asian country will rely on imported liquefied
natural gas to feed some of its power plants running on supply
from its Malampaya gas field in western Philippine waters,
expected to dry up within the next few years, and new units.
Energy Secretary Alfonso Cusi told Reuters in a text message
that he was closely monitoring the activities of four proponents
of LNG import and storage facilities to ensure that they meet
commissioning targets.
"These projects are moving in varying stages of permitting
from other government agencies, and/or financial closing prior
to filing an application for the permit to construct," he said.
The projects of First Gen Corp FGEN.PS , U.S.-based
Excelerate Energy LP, Batangas Clean Energy Inc, and
Australia-listed Energy World Corp EWC.AX were still in the
pipeline.
First Gen has had talks with Tokyo Gas Co Ltd 9531.T to
build a LNG terminal in Batangas province, near its four
2,100-megawatt gas-fired units. Excelerate plans a floating LNG terminal, while Batangas
Clean Energy of billionaire Lucio Tan has proposed a 1,100-MW
power plant alongside a LNG import terminal. Energy World aims to put online next year a 650-MW
LNG-fuelled power plant in Quezon province, near its LNG
receiving plant.
However, projects proposed by Phoenix Petroleum Philippines
Inc PNX.PS , which had partnership talks with CNOOC Gas and
Power of China, and SMC Global Power Holdings Corp, a unit of
San Miguel Corp SMC.PS , were excluded from the government's
list.
Plans for Phoenix's $2 billion LNG hub has been put on hold,
while San Miguel's project has yet to get government approval.
San Miguel, which operates a 1,200-MW gas-fuelled unit, is
partnering with Atlantic Gulf & Pacific for its LNG project.