POST Online Media Lite Edition


Six countries vie for $2 billion Philippines LNG hub

Staff Writer |
State-run Philippine National Oil Company (PNOC) has shortlisted six countries and will choose one from them as a partner for its planned $2 billion receiving and distribution facility for imported LNG, Reuters reported.

Article continues below

The company has received six proposals from China, Indonesia, Japan, Singapore, South Korea and the United Arab Emirates (UAE) to co-build the LNG hub, PNOC’s head of LNG team and technical adviser Arwin Ardon quoted as saying.

He said all proposals include storage, liquefaction, regassification, a power plant, and distribution facility as part of the LNG terminal.

The construction of the project, which includes a 5 million tonnes-per-annum storage facility, could be completed by 2020, or four years before the country's Malampaya natural gas field is depleted, Energy Secretary Alfonso Cusi said last month.

These proposals will be reviewed and will be submitted to the DOE, which has the final say on the project, by July 30, Philstar quoted Ardon as saying.

What to read next

Philippines to see 124,000 new jobs in outsourcing industry
Philippines budget surplus $268.67 million
Philippine import bill posts flat growth in July