Investing.com - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Philippines' First Gen starts work on LNG terminal JV project with Tokyo Gas

Published 05/28/2019, 01:26 PM
Updated 05/28/2019, 01:30 PM
Philippines' First Gen starts work on LNG terminal JV project with Tokyo Gas
EWC
-
9531
-
FGEN
-
PNX
-

MANILA, May 28 (Reuters) -
* First Gen Corp FGEN.PS , a Philippines-based clean energy
producer, said on Tuesday it has completed "significant
pre-development work" for its planned liquefied natural gas
(LNG) terminal, which is a joint venture project with Tokyo Gas
Co Ltd 9531.T .
* First Gen, which operates four power plants with a
combined
capacity of 2,000 megawatts relying completely on natural gas
from the country's Malampaya gas field, also held a
ground-breaking ceremony for the project.
* The company plans to ensure availability of imported gas
for its
power plants ahead of an expected depletion in Malampaya's gas
reserves by 2024.
* First Gen said its LNG site near its power plants in
Batangas
province is now "construction-ready" and a final investment
decision may be made by late 2019 or early 2020.
* First Gen's LNG project is one of the three in the
pipeline in
the Philippines.
* Australia-listed Energy World Corp's EWC.AX LNG hub
project in
Pagbilao province is now almost complete, its Managing Director
and Chief Executive Stewart Elliott told Reuters last week.
* Phoenix Petroleum Philippines Inc PNX.PS and Chinese
partner
CNOOC Gas and Power signed a deal in March adding state-owned
Philippine National Oil Company to their planned $2 billion LNG
hub project also in Batangas.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.