Power

FGen leads race to build PH’s first LNG terminal

FGEN LNG Corp. (FGEN LNG), a wholly-owned subsidiary of First Gen Corp. (First Gen) of the Lopez Group, is leading the race to put up the country’s first liquefied natural gas (LNG) facility.

This as the company announced the start of construction of its interim offshore LNG terminal in Batangas City by March.

“I’m pleased to tell you that the project has moved past the planning stage and it’s now moving ahead. We recently issued notice to proceed to our EPC contractor McConnell Dowell and the engineering is underway with construction expected to start by March of this year,” said Jonathan Russell, First Gen EVP and chief commercial officer during the PEIC-ECCP “Philippine Energy Transition Forum” on Thursday.

“In parallel, we have a tender process which is ongoing to select the FSRU (floating storage and regasification unit) provider,” Russell said.

An FSRU is a liquefied natural gas carrier (LNGC) that is capable of storing LNG and capable of returning LNG into a gaseous state and then supplying it directly into the gas network.

The three bidders for the FSRU are BW Gas Limited, Dynagas Ltd. and Hoegh LNG Asia Pte Ltd.

BW Gas Limited is a wholly-owned subsidiary of the BW Group, and is involved in the global market of transportation and floating regasification services of LNG, including construction, ownership, and operation of FSRUs.

Dynagas Ltd. is an LNG maritime transportation company, headquartered in Athens, Greece while Hoegh LNG Asia is a wholly-owned subsidiary of Hoegh LNG Limited, a wholly-owned subsidiary of Hoegh LNG Holdings that specializes in the global market of transportation and floating regasification services of LNG, including the construction, ownership, and operation of FSRUs.

The offshore terminal will allow FGEN LNG to accelerate its ability to introduce LNG to the Philippines as early as the third quarter of 2022, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.

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