MANILA, May 28 (Reuters) –
* First Gen Corp, a Philippines-based clean energy producer, said on Tuesday it has completed “significant pre-development work” for its planned liquefied natural gas (LNG) terminal, which is a joint venture project with Tokyo Gas Co Ltd.
* First Gen, which operates four power plants with a combined capacity of 2,000 megawatts relying completely on natural gas from the country’s Malampaya gas field, also held a ground-breaking ceremony for the project.
* The company plans to ensure availability of imported gas for its power plants ahead of an expected depletion in Malampaya’s gas reserves by 2024.
* First Gen said its LNG site near its power plants in Batangas province is now “construction-ready” and a final investment decision may be made by late 2019 or early 2020.
* First Gen’s LNG project is one of the three in the pipeline in the Philippines.
* Australia-listed Energy World Corp’s LNG hub project in Pagbilao province is now almost complete, its Managing Director and Chief Executive Stewart Elliott told Reuters last week.
* Phoenix Petroleum Philippines Inc and Chinese partner CNOOC Gas and Power signed a deal in March adding state-owned Philippine National Oil Company to their planned $2 billion LNG hub project also in Batangas. (Reporting by Enrico dela Cruz; Editing by Rashmi Aich)
