26 local, foreign companies interested in building integrated LNG plant in PHL

MANILA-- A total of 26 companies have signified interest in building a Liquefied Natural Gas (LNG) Integrated Facility at the Energy Supply Base (ESB) of the Philippine National Oil Company (PNOC) in Mabini, Batangas.

PNOC President and CEO Reuben Lista said that six Japanese, two Korean, three Filipino, one Australian, three Singaporean, one American, seven Chinese, two Turkish and one from United Arab Emirates companies had submitted proposals or signified interest in building the LNG facility.

According to Lista, at least six firms have already submitted formal proposals. Other interested companies have only until the end of April 2017 to submit their proposals. The PNOC will then evaluate and make a shortlist of unsolicited proposals.

"We will eventually pick those which will best benefit the economy and the country and that investors are assured of their return on investment because this is a continuing project. This is not only limited to 200 megawatts. If this works, we can go as high as 800 megawatts," Lista said.

"This will be a complete facility. It will have a power plant, storage, re-gas, and liquefaction. Where they intend to put this up whether offshore, onshore or inshore, it will be up to their expertise and computation," according to Lista.

The main objective is to build a storage facility to take care of the needs of LNG power plants in the future and to provide Compressed Natural Gas (CNG) to gasoline stations. Lista described LNG as "the fuel of tomorrow."

The power output of this LNG integrated facility will support the Philippine Economic Zone Authority (PEZA) industries. "We have a social and moral obligation to help PEZA industries because they are starting industries so we should support them and the rest of the energy should go to the poorest of the poor." Lista said.

Source: Philippines News Agency