A wholly-owned subsidiary of First Gen Corp. has picked three preferred bidders for a floating storage and regassification unit (FSRU) within its liquefied natural gas terminal in Batangas.
The three groups include BW Gas Ltd., GasLog LNG Services Ltd. and Hoegh LNG Asia Pte Ltd.
An FSRU is a liquefied natural gas carrier which is capable of storing LNG and which has an onboard regasification plant capable of returning LNG into a gaseous state and then supplying it directly into the gas network.
FGen said a typical FSRU has a storage capacity of between 125,000 cubic meters and 170,000 m3.
The LNG project consists of construction works necessary to modify the existing liquid fuel jetty that will enable it to become multiple-use and build an adjunct onshore gas receiving facility to receive and deliver gas to end-users.
Once completed, the project will utilize an FSRU that will be berthed at the multi-purpose jetty to store and re-gasify LNG for use when required.
FGEN LNG believes the project will play a critical role in ensuring the energy security of the Luzon grid and the Philippines.
The project will allow FGEN LNG to accelerate its ability to introduce LNG to the Philippines as early as the third quarter of2022. It is intended to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.
A member of the BW Group, BW Gas is involved in the global market of transportation and floating regasification services of LNG, including construction, ownership, and operation of FSRUs.
GasLog, meanwhile, is among the largest independent LNG midstream companies in the world, with experience dealing with cargo types as diverse as LNG, oil, dry-bulk, and chemicals.
Hoegh LNG, on the other hand, specializes in the global market of transportation and floating regasification services of LNG.