AG&P says LNG backlog continues to grow

Singapore’s LNG firm AG&P is entering the second quarter with a record backlog of contracted projects, mostly related to liquefied natural gas.

The backlog of contracted projects totals over $770 million covering various initiatives in the Philippines, India, the US, and elsewhere, the downstream player said on Wednesday.

In addition, the work includes five land or marine LNG terminals, a new bunkering vessel, and engineering for other maritime LNG applications, AG&P said.

Besides LNG, the firm will work on a petrochemical complex, modularized oil refinery, and an edible oil depot.

AG&P also expects to secure additional projects in the LNG and power sectors within this year.

“AG&P’s construction business is forecast to have its best year in its 121-year history, with contracted backlog already over $770 million spread over 3 years,” said Augusto Gan, AG&P chairman.

Recently, AG&P has secured approval to develop its import and regasification terminal in the Philippines, located in Batangas Bay on the main island of Luzon.

Philippines LNG will store and dispatch regasified liquefied natural gas to power plant, industrial and commercial customers but also other customers, according to AG&P, which shareholders include Osaka Gas and the Japan Bank for International Cooperation.

Moreover, the terminal will have the initial capacity to deliver up to 3 mtpa of regasified LNG, with additional capacity for liquid distribution.

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