A unit of Singapore’s downstream LNG player 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.
The Philippines’ Department of Energy has issued a notice to proceed to Atlantic Gulf & Pacific Company of Manila for the project named Philippines LNG.
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.
On day one, PLNG will have onshore regasification capacity of 420 mmscfd and almost 200,000 cbm of storage, the firm said.
In addition, AG&P has already completed its pre-development work for the LNG terminal, and expects to launch the project by summer 2022.
The Philippines has several LNG import facilities on the table as the Malampaya gas field becomes less reliable in producing and providing sufficient fuel supply for the country’s existing gas-fired power plants.
The DOE approved AG&P’s application “in line with its commitment to make the Philippines a regional LNG hub in Southeast Asia,” the statement said.