Tanglawan Philippine LNG Inc., a company controlled by Phoenix Petroleum Philippines of businessman Dennis Uy, asked the Department of Energy to suspend the notice to proceed with its liquefied natural gas project, a government official said Tuesday.
Energy Undersecretary Donato Marcos said Tanglawan sought for the suspension of the notice in the wake of Udenna Corp.’s acquisition of the entire shareholdings of Chevron Malampaya LLC, a wholly-owned subsidiary of Chevron Philippines Ltd. that owns a 45-percent stake in the Malampaya gas project in northwest Palawan.
Phoenix and Udenna are both controlled by Uy.
Phoenix is finalizing its joint venture agreement with CNOOC Gas and Power Group Co. Ltd., a subsidiary of China National Offshore Oil Corp. for the planned Tanglawan integrated LNG project.
“Both companies requested for suspension. Separately they [Phoenix and CNOOC] asked but on the same tone, asking for suspension. That’s why we are evaluating if the suspension is within the Philippine Downstream Natural Gas Rules,” Marcos said.
Tanglawan Philippine LNG Inc., a company controlled by Phoenix Petroleum Philippines of businessman Dennis Uy, asked the Department of Energy to suspend the notice to proceed with its liquefied natural gas project, a government official said Tuesday.
Energy Undersecretary Donato Marcos said Tanglawan sought for the suspension of the notice in the wake of Udenna Corp.’s acquisition of the entire shareholdings of Chevron Malampaya LLC, a wholly-owned subsidiary of Chevron Philippines Ltd. that owns a 45-percent stake in the Malampaya gas project in northwest Palawan.
Phoenix and Udenna are both controlled by Uy.
Phoenix is finalizing its joint venture agreement with CNOOC Gas and Power Group Co. Ltd., a subsidiary of China National Offshore Oil Corp. for the planned Tanglawan integrated LNG project.
“Both companies requested for suspension. Separately they [Phoenix and CNOOC] asked but on the same tone, asking for suspension. That’s why we are evaluating if the suspension is within the Philippine Downstream Natural Gas Rules,” Marcos said.
