ADB to advise on Philippines’ $2 billion LNG project

The Asian Development Bank (ADB) said on Tuesday it has signed an agreement with the Philippine National Oil Company (PNOC) to act as transaction advisor for the Philippines’ first LNG hub project in Batangas.

The transaction advisory services agreement was signed by Takeo Koike, Officer-in-Charge of ADB’s Office of Public-Private Partnership (OPPP), and Reuben S. Lista, President and Chief Executive Officer of PNOC at a ceremony in Manila.

“The Philippines’ first LNG hub will help in ensuring long-term energy security to the Philippines and source a cleaner energy resource,” said Siddhartha Shah, Principal PPP Specialist. “It will also increase energy access and create new demand in the power, transportation, and industrial sectors in Luzon and in neighboring islands.”

Given the imminent depletion of domestic gas reserves at the Malampaya gas field in Palawan, which provides a substantial amount of power supply in the country, PNOC is developing a robust and sustainable gas supply strategy through the establishment of an LNG hub in Batangas, ADB said in its statement.

Under the agreement, ADB’s OPPP will advise and assist PNOC in all aspects of the project, including the award and execution of the final project agreements.

The project, which could cost up to $2 billion, will consist of a regasification terminal, storage, power plant, and other related infrastructure.

 

 

Share this article

Follow LNG World News

Events>

<< May 2018 >>
MTWTFSS
30 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 31 1 2 3

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

4th Annual Upstream West Africa Summit 2018

In June 2018, Senegal will play host to the No.1 Annual B2B Upstream Oil & Gas event, which will bring together the senior decision makers from across the prolific West Africa region to discuss the trends and challenges currently facing the Oil and Gas industry.

Since the discovery by Tullow Oil in 2007 of the Jubilee Field in Ghana, the Upstream sector has refocused its efforts to explore similar plays around the entire West and North West African coast. These efforts were rewarded with Cairn Energy’s prolific discovery in 2014 followed by Kosmos’ in 2015. The West Africa region has the industry’s spotlight firmly focused on further unlocking the potential of this largely underexplored region.

Companies that will be looking toward further unlocking the deepwater hydrocarbon potential of West Africa include: PETROSEN, BP, Kosmos Energy, Cairn Energy, FAR, Total E&P, Premier Oil, Shell, Tullow Oil along with the Ministries and key solution providers.

 More info

read more >

The 27th World Gas Conference (WGC 2018)

The 27th World Gas Conference (WGC 2018) will be the largest, most timely and most significant global gas conference and exhibition ever held.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >