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First Gen Starts LNG Terminal Construction In April

by Philippine Resources - March 22, 2021

First Gen Corp, a Philippine power company, announced that construction on its LNG terminal, which is expected to cost $274 million, will begin next month.

First Gen's LNG import terminal, which will be built near its gas-fired power plants in Batangas province, is one of five such projects approved by the Department of Energy.

"Commencing the construction of the country's first LNG terminal next month...puts the company in a good position for expanding its gas portfolio especially after the recent DOE coal moratorium," First Gen President Francis Giles Puno said in a statement.

By the third quarter of 2022, the terminal will enable First Gen to ship LNG to the Philippines.

Since the government's latest projections show that the Malampaya gas field in western Philippine waters will run dry by 2027, the Southeast Asian country will need to import LNG to fuel existing power plants with a combined capacity of about 3,200 megawatts.

Tokyo Gas Co Ltd, a 20 per cent participating stake in the development and service of the terminal, will be First Gen's partner for the project, which includes the use of a Floating Storage Regasification Unit.



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