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  • Electricity/Power Grid , 
  • Oil & Gas

Phoenix-CNOOC JV to build Philippines’ first LNG terminal

14 January 2019

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  • Philippines

The Philippines’ energy ministry has approved the bid from local fuel retailer Phoenix Petroleum and China’s CNOOC to build the country’s first liquefied natural gas (LNG) import terminal.

The $2 billion regasification and imports terminal will be built south of the capital of Manila, featuring a capacity to handle 2.2 million tonnes per annum (Mtpa) of LNG. The plant is expected to start operations in 2023, Phoenix said Friday, in a regulatory filing.

The project will be developed and operated by a joint venture formed by Phoenix’s Tanglawan Philippine LNG and CNOOC Gas and Power Group. The companies signed a memorandum of understanding to develop the facility last June, Kallanish Energy notes.

The government’s approvals are crucial for the replacement of the declining indigenous gas production, estimated to run out as early as 2024.

Phoenix said long-term, the project will also feature a natural gas power plant with capacity to generate 2,000 megawatts (MW) of electricity.

“The (LNG) terminal is only Stage 1 of our plans for the facility. We will develop it to become an LNG hub, giving Filipinos access to low-cost and environmental-friendly energy supply,” said Phoenix’s chief operating officer, Henry Fadullon.

  • Energy Cooperation , 
  • Energy Economy , 
  • Oil & Gas

Global Vanadium hints at two new vanadium investments as it shifts from oil and gas focus

14 January 2019

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  • Philippines

Global Vanadium is in active negotiations for two new projects as part of its continued vanadium focus.

Newly renamed and refocused Global Vanadium (ASX: GLV) has announced two potential project opportunities and provided an update on its investment in the Philippines iron sands vanadium-magnetite project.

The Western Australia-based company officially changed its name and ASX ticker code from Baraka Energy and Resources and BKP in December 2018 in order to “better reflect the company’s stated strategy of pursuing its investment in the vanadium commodity sector”.

As part of this strategy, the company completed a review of a shortlist of projects for potential investment and today announced it is actively pursuing negotiations on two opportunities.

The review comprised both early-stage and advanced projects and involved Global director Jason Brewer and the company’s geological and metallurgical consultants conducting several due diligence site visits and meetings in South Africa.

According to Global, the two potential projects have so far met all of the company’s ongoing technical and due diligence requirements.

However, it did not reveal further information as while negotiations are considered to be “at a high level”, they are still incomplete.
Philippines project

Global also today updated the market on its investment in the Philippines iron sands vanadium-magnetite project, which is currently held through loan advances to unlisted public company Consolidated Iron Sands (CIS) and its 97%-owned subsidiary Luzon Iron Development Group Corporation.

Luzon holds exploration permits covering two offshore areas between Sanchez Mira and Gonzaga in the Cagayan province of Luzon, the largest island in the Philippines.

From September to November 2018, Global conducted a review of the project and provided Luzon with its requested monthly budget advances under the existing secured loan agreement.

By the end of the 2018 calendar year, the total funds advanced were in excess of $4.06 million, which Global said was “over and above the amount envisaged to be loaned”.

Meanwhile, a review of information has prompted Global to decline the advancement of the December budget, particularly given it was “unclear if and when the current renewal of the exploration permits will be granted by the Philippines authorities”.

In addition, Global claims that none of the loan funds in the December budget were being used to protect ad preserve the permits or meet the expenditure required under Philippines law.

Global has requested a revised budget from CIS and Luzon and said it intends to continue to work in good faith with the companies to advance the project.
Oil and gas asset

Global had previously focused on oil and gas under its old identity and despite its strategic shift to vanadium, it has chosen to hold onto an exploration permit in the Northern Territory’s Southern Georgina Basin.

The company had encountered elevated hydrocarbon shows during the drilling of its McIntyre-2 well in 2011, but activities were suspended when a fracking ban was imposed across the entire territory.

However, the moratorium was lifted in April last year and since then, the company has reported “significant interest” in the project.

As part of its asset review, Global concluded that the project “is in good standing and represents an under-explored asset with potential to add significant value to the company”.

Global said it has engaged an unrelated corporate firm for a four-month period to pursue a potential joint venture or other divestment opportunity for the project.

  • Renewables

Impact study to be prepared for Kalinga geothermal project

14 January 2019

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  • Philippines

News report that the Philippines’ Department of Energy has giving Aragorn Power and Energy Corp. approval for the conduct of a grid impact study on the proposed 120 MW Kalinga geothermal power project in Pasil, Kalinga province, Philippines.

This is the first project allowed by the agency this year to conduct a study on the impact of the Kalinga project to the grid.The DoE approved the conduct of the study on January 4.

We reported last year, that DOE in the Philippines declared the Kalinga project as an energy project of national significance, and that the company plans to start drilling in 2019.

The Geothermal Service Contract of the project covers an area of ca. 26,000 hectares and has an estimated potential of 120 MW to 200 MW. The contract is held by APEC and partner Guidance Management Corp.

  • Renewables

First Gen, EDC only Philippine firms in world Carbon Clean 200

14 January 2019

 – 

  • Philippines

MANILA – First Gen and Energy Development Corp said Monday they were the only Philippine companies included in the most recent Carbon Clean 200 list.

It was the first time for First Gen and the third time for EDC to make it to the list compiled by non-profit organization As You Sow in the US and market research group Corporate Knights of Canada. The rankings recognize the greenest companies in the world based on the size of their revenues from clean energy sources.

First Gen ranked 113rd with estimated clean energy revenues of $632 million in 2017, while EDC ranked 139th with $494.72 million, the two companies said in a statement.

To qualify, a company must have over $1 billion in market capitalization and generate more than 10 percent of its total revenues from clean energy sources, it said.

“Being the only Philippine companies on the list is a strong recognition of our commitment to not invest in coal and to make RE [renewable energy] more accessible to the Filipinos to help drive a low-carbon economy for the country,” said First Gen and EDC chairman and CEO Federico Lopez.

First Gen is a renewable energy producer with a 3,490 megawatts in in installed capacity while its subsidiary EDC has an installed capacity of 1,471.8 megawatts.

First Gen, EDC and news.abs-cbn.com are part of the Lopez Group of companies.

  • Renewables

DoubleDragon’s CityMall signs agreement to support WWF-Philippines

14 January 2019

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  • Philippines

MANILA – DoubleDragon Properties Corp on Monday said its subsidiary CityMall Commercial Centers Inc. signed an agreement to support the renewable energy efforts of the World Wide Fund for Nature (WWF) Philippines.

The Memorandum of Agreement will boost projects that promote and demonstrate renewable energy use, low carbon development in cities, and sustainable consumption and production under the Climate Change and Energy Program of WWF-Philippines, DoubleDragon said in a disclosure to the stock exchange.

WWF-Philippines’ initiatives will have exposure in all 100 CityMalls nationwide, the statement said.

“DoubleDragon’s CityMalls are designed and built with above par quality that integrates green technology in line with our efforts of promoting sustainable development. The CityMalls the company builds, are designed to endure the test of time and remain relevant for generations to come,” said DoubleDragon chairman Edgar “Injap” Sia II.

The real estate company is committed in its long-term investment in green technology, chief investment officer Hannah Yulo said.

CityMall is envisioned to become one of the largest independent community mall chains in the country and will be mostly located in the Visayas and Mindanao, the company said.

  • Energy Economy

Private capital key to Vietnam’s energy development: WB report

14 January 2019

 – 

  • Vietnam

Hanoi (VNA) – New financial sources, particularly from the private sector, will help Vietnam further develop its energy industry, according to a new World Bank report on maximising finance for Vietnam’s energy development.

Titled “Maximising Finance for Development in Vietnam’s energy sector”, the report said the changing macroeconomic and sectoral context in Vietnam requires a new approach to financing electricity and gas investments. It presented an action plan on how to unlock new sources of finance, especially from the private sector, based on a comprehensive analysis of investment needs as well as constraints in the regulatory environment including the capital and forex markets.

Between now and 2030, Vietnam’s electricity sector requires new investments of about 10 billion USD annually, higher than the average of 8 billion USD for the 2011–15 period. Meanwhile, the development of the gas sector is estimated to require about 20 billion USD between 2015 and 2035.

While Vietnam Electricity (EVN) and PetroVietnam (PVN) will continue to play an important role in developing new infrastructure, the vast majority of new gas and electricity investments will need to come from private players. Moving into this direction is in line with the Government’s strategy and objectives of financing the energy sector in the future, said the report.

Given the limited fiscal space and the reduction of concessional financing available going forward, it will be important for Vietnam to step up mobilising alternative capital resources for the electricity and gas sectors, said Ousmane Dione, the World Bank Country Director for Vietnam.

He recommended that the Government should address comprehensively the constraints currently impeding the flows of domestic and cross border private capital into two of the most strategic segments of the Vietnamese economy.

Granz Gerner, the World Bank’s Lead Energy Economist and the study’s lead author, said private investors are interested in Vietnam’s growing energy sector, particularly the development of renewable energy and liquefied natural gas.

What investors need is a transparent and stable regulatory environment which incorporates a proper risk-sharing mechanism among all parties, he added.

To remove constraints and maximise financing available for electricity and gas investments in Vietnam, the report proposed a well-coordinated policy effort around three pillars: developing a major PPP/IPP programme for new power generation, enhancing the financial standing and credit worthiness of EVN and PVN to enable them to access commercial finance without government support, and increasing the availability of local currency financing which is critical for both project finance and corporate project finance. – VNA

  • Coal

TNB introduces blended coal at Lumut plant

13 January 2019

 – 

  • Malaysia

KUALA LUMPUR (Jan 13): Tenaga Nasional Bhd (TNB) is introducing blended coal at its coal-fired power plant in Lumut, Perak, as part of a continuous effort to ensure a sustainable coal supply for electricity generation.

The introduction of blended coal for the Sultan Azlan Shah Power Station, which produces 20% of Peninsular Malaysia’s energy generation, will help secure coal supply for the power plant going forward, the national utility company said in a statement today.

It is also in line with the growing trend among utilities to use blended coal to match power demand with the availability of coal supply, TNB said.

The Sultan Azlan Shah Power Station, which has a generation capacity of 4,100 megawatts, consumes 15 million tonnes of sub-bituminous coal per year.

The power station took delivery of its first blended coal shipment on Dec 31, 2018, at the neighbouring Lekir Bulk Terminal, which is owned by TNB’s wholly-owned subsidiary Integrax Bhd.

The coal is imported from Indonesia by another wholly-owned subsidiary, TNB Fuel Services Sdn Bhd, which supplies fuel and coal for the country’s power plants.

TNB Janamanjung Sdn Bhd, the operator of the Sultan Azlan Shah Power Station, will conduct a trial burn exercise and lab analysis to ensure blended coal meet the emission standard and combustion compatibility of the power plant prior to the plant’s usage of the coal.

 

  • Energy Economy

MIC gives green-light to nine investments

13 January 2019

 – 

  • Myanmar

Myanmar Investment Commission (MIC) granted the permits to nine new investments including CMP factories and LPG businesses at its meeting on January 11.

The nine new foreign investments are: meat packaging, rice and rice mill products, animal feed production, baby chicks production, CMP garment industries, power production, LPG industry, warehouse and logistics services and vehicle repairing training. The new investments can create 2,227 jobs for locals.

From 1988-1989 to 2018-2019 fiscal year, the total foreign investments reached around USD 78 billion with China topping the list of FDI with USD 20.249 billion, followed by Singapore with USD 19.752 billion.

Oil and gas sector led the list of FDI with 29 per cent and the energy sector, with 27 per cent.

Livestock and fishery, farming and construction sectors saw the least FDI inflows, accounting for less than one per cent.

From October 1 to November, 2018-2019 FY, the country saw an inflow of nearly USD 466 million foreign investments, according to Directorate of Investment and Company Administration (DICA).

From October 1 to November, the transportation sector stood first on the list of FDI with USD 171.790 million, the other sector, second, with USD 149.291 million and the production sector, third with more than USD 100 million.

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