InterOil, Pacific LNG Sign Non-binding Memorandum with Energy World (Philippines)

 

InterOil Corporation today announced that InterOil and Pacific LNG Operations Ltd., have signed a non-binding memorandum with Energy World Corporation Ltd., which has a permit to construct an LNG Hub Terminal and a 300MW combined cycle gas turbine (CCGT) power plant located on Pagbilao Grande Island, Philippines, to negotiate taking an ownership interest and establish an associated downstream gas sale, purchase, transmission and distribution services company.

The LNG Hub Terminal is designed to be located adjacent to an existing power plant and consist of facilities for unloading, storage, regasification, and processing of LNG and/or regasified LNG of 1 bcf per day. The CCGT power plant is being designed to consist of 2 x 150MW modules and planned to be built in two phases. A key basis for exploring the partnership is that the CCGT power plant could be the anchor buyer of the proposed PNG EWC Joint Venture LNG facility, sourcing up to 500,000 tonnes per annum.

The gas distribution services company would be established to purchase, transmit, distribute and sell LNG and/or regasified LNG on a wholesale or retail basis to the Philippine gas market.

Phil Mulacek, CEO, stated, “We look forward to progressing our discussions to expand our existing relationship with EWC. The LNG Hub Terminal project and its associated LNG off-take agreement for base load power in the Philippines has the capacity to underpin the proposed PNG EWC LNG facility, assisting our progress toward a final investment decision for that facility.”

Source: InterOil, March 23, 2011;

Share this article

Follow LNG World News

Events>

<< Jun 2016 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

The 7th Annual Floating LNG USA 2016

The 7th Annual Floating LNG USA 2016 will bring together over 65 speakers from every part of the FLNG value chain…

read more >

The FLNG World Congress 2016

The FLNG World Congress 2016 is the premium international FLNG event, bringing together the entire value chain of FLNG stakeholders…

read more >

World LNG & Gas Series: 8th Asia Pacific Summit

The 8th Annual World LNG & Gas Series: Asia Pacific Summit is back in September…

read more >

Gas to Liquids

The volatile oil price has had a dramatic impact on the Gas to Liquids market and some large-scale projects’ operators have struggled to adapt to this unsteady landscape. Over the last 12 months, we have witnessed a few promising projects halt or even shut down altogether. However, whilst some doors have had to close, other doors are opening with interesting emerging markets on the new GTL field. A few companies have discovered ways to significantly reduce operating costs and prove to be commercially viable despite the current economic climate.

Against this backdrop, SMi’s 19th annual Gas to Liquids conference will discuss how GTL companies can work with the tumbling oil price and how they can build robust strategies and create effective alternative solutions to enable them to weather the storm. The programme will have a special focus on small-scale GTL projects, giving you the chance to hear first-hand success stories from leading GTL operators. The two-day event will provide the ideal platform for experts to discuss with peers what companies need in place in order to overcome today’s challenges, with leading industry figures dissecting cutting edge topics, including project financing, marketing of GTL projects and innovative alternative applications of GTL plants.

For more information and to register online, visit: www.gas-to-liquids.co.uk

read more >