May be construed as small fry however I would have thought the 29 Dec Initial Enviromental Approval was a pretty important milestone here for the LNG hub and the 300 MW Power Plant. Another example of the company not releasing price sensitive information or at the least of negletting to inform shareholders of decent information? Maybe I missed it somewhere.
LNG Hub, the Philippines
We are developing an LNG Hub, planned to comprise an LNG import and export terminal, 130,000 tonnes LNG storage facility and re-gasification plant on an industrial son Pagbilao Grande Island in Quezon Province, the Philippines. Pagbilao Grande Island has been selected because of its strategic location, with sheltered deep water berthing for ocean-going vessels, as well as its proximity to road, rail and the 230kv national power grid in the Philippines as well as key developing markets in coastal China. A 20-year lease of land with an area of 215,000sq.m. has been entered into with Malory Properties Inc. This site is adjacent to the Pagbilao Power Plant, which the 230kv transmission system was originally constituted for. A ground breaking ceremony attended by federal and local government officials and dignitaries was held on the 28 August 2009 and initial site formation works are being undertaken. On 29 December 2009, we received the initial environmental approvals to allow us to proceed with the development of the hub terminal together with a first phase 300 MW gas fired power plant.
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