https://www.petroleum-economist.com/articles/midstream-downstream/lng/2019/philippines-lng-projects-pass-significance-test
Philippines LNG projects pass significance testThe island nation's government awards certificates to two more planned import facilities
Philippines power firm First Gen had its application for the proposed Batangas LNG terminal, to be considered an energy project of national significance (EPNS), approved by the country's energy ministry in early August, becoming the second in a matter of weeks to announce the milestone.
At the end of July, Australia's Energy World Corporation (EWC) said that its Pagbilao project had also been certified as an EPNS earlier in the month.
The logic for developing the projects, which are just two of a slew of projects to import LNG into the Philippines, is two-fold. Firstly, the country's only major source of domestic gas production—Shell's Malampaya field, which supplies 3.2GW of existing gas-fired generation and other demand—is set to begin declining early next decade. Also, the country wants to reduce its dependence on polluting coal-fired generation, a goal reiterated by President Rodrigo Duterte in his July state of the union address, in part by increasing gas-fired capacity.
First Gen's Batangas project, with a capacity of up to 5mn t/yr, falls into the former category. The firm already has 2GW of gas-fired capacity that will need an alternative supply once Malampaya volumes fall. EWC's 1.5mn t/yr import terminal, on the other hand, is linked to a new 650MW combined-cycle gas turbine (CCGT) power plant.
First Gen held a ground-breaking ceremony for Batangas LNG in May with partner Tokyo Gas of Japan, which came on board in a December 2018 joint development agreement (FDA), and foresees Tokyo Gas taking a 20pc equity stake in the project. The ceremony reflected that pre-development work had made the site construction ready, although no final investment decision (FID) has yet been taken.OnlA third Philippines LNG import facility has also made significant progress this year. The 2.2mn t/yr Tanglawan LNG project received its Notice to Proceed in January, while state oil firm Pnoc joined the existing backers, privately-held Philippines oil firm Phoenix Petroleum and Cnooc, one of China's 'big three', in signing a March memorandum of understanding (MoU) on developing the terminal.
Tanglawan has a projected start date of the end of 2023 and has up to 2GW of new gas-fired capacity attached to the overall plan.
Pnoc's entry into the Tanglawan consortium has not, though, precluded it from continuing involvement in other potential import projects. In April, Dubai-based LNG infrastructure developer Lloyds Energy had its unsolicited offer to Pnoc to build an LNG hub with associated generation assets determined complete under government regulation. Lloyds Energy is aiming to develop a 1200MW CCGT with Japan's Mitsubishi, and says Pnoc is interested in taking a minority stake.
Pnoc also signed an MoU with the subsidiary of another of China's 'big three', CNPC, on collaboration in areas including LNG import. Another Chinese firm, independent LNG import company Jovo Group, signed an MoU with the Philippines on the building and operation of an LNG receiving terminal in the presence of President Duterte in May.
As many as five other potential Philippines import projects have received press coverage in recent months, although none seem to have progressed far.
- Forums
- ASX - By Stock
- New venture in the Philippines
https://www.petroleum-economist.com/articles/midstream-downstream...
-
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EWC (ASX) to my watchlist
|
|||||
Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $27.71M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 2949165 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 720939 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 2949165 | 0.009 |
3 | 782617 | 0.008 |
3 | 975724 | 0.007 |
2 | 2250000 | 0.006 |
1 | 300000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 720939 | 1 |
0.013 | 400000 | 1 |
0.014 | 252448 | 1 |
0.018 | 273945 | 1 |
0.025 | 10000 | 1 |
Last trade - 16.12pm 23/08/2024 (20 minute delay) ? |
Featured News
EWC (ASX) Chart |
Day chart unavailable
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online