The government said six companies that aim to put up liquefied natural gas (LNG) terminals in the country will be investing P82.93 billion or around $1.61 billion.
Department of Energy (DOE) Assistant Secretary Leonido Pulido III presented the six proposed LNG infrastructure development in Luzon that will augment the country’s natural gas supply as Malampaya gas field is quickly depleting.
In his presentation, FGEN LNG Corp. is investing P13.28 billion for an interim floating storage and regasification unit (FSRU) LNG terminal in Batangas City.
The facility, which is cleared to construct its ancillary facility, is expected to be completed by the third quarter of next year.
It will have a capacity of 5.26 million tons LNG per annum (MTPA).
Other FSRU LNG terminal projects that will also rise in the second half of 2022 include the 4.4-MTPA project of Excelerate Energy L.P., with investments amounting to P6.39 billion; the 3-MTPA LNG terminal of Atlantic Gulf & Pacific Company of Manila, Inc., with project cost amounting to P15.33 billion; and the 3-MTPA project of Shell Energy Philippines, Inc. worth P2.52 billion.