Tanglawan Philippine LNG Inc Receives Approval To Build Terminal
The Tanglawan Philippine LNG Inc has been granted by the Department of Energy the Notice to Proceed to build an LNG terminal in Batangas. The company plans to break ground by 2019 for the regasification and receiving terminal with a capacity of 2.2 mtpa, with commercial operations targeted to start by 2023.
The LNG facility will help support the demand for a clean, low-cost, and environment friendly energy source in Luzon and contribute to the sustainable development of the Philippine economy. The integrated long-term project plan also aims to develop a gas-fired power generation facility with up to 2,000 megawatts installed capacity.
A possible joint venture arrangement for Tanglawan Philippine LNG Inc. is currently being discussed between China’s largest LNG importer and terminal operator, CNOOC Gas and Power Group Co., Ltd., and Philippine’s fastest-growing oil company, Phoenix Petroleum.
(Source: Phoenix Petroleum)