Japan’s biggest city gas supplier, Tokyo Gas is reportedly interested in taking part in the construction of a liquefied natural gas (LNG) import terminal in the Philippines.
The Manila Standard reported the Philippine’s energy secretary Alfonso G. Cusi saying that Tokyo Gas is interested in the government’s plans to set up an LNG receiving terminal through the state-owned Philippine National Oil Co.
It was also reported that the Philippines could take advantage of the current market oversupply and the low LNG prices.
Neither the office of the energy secretary Cusi, nor Tokyo Gas have responded to emails sent by LNG World News seeking comments on the report.
Tokyo Gas is looking to expand its participation in small and medium-scale LNG projects, and otherwise work toward diversification and business development in Southeast Asia and North America.
The company has also signed a memorandum of understanding with UK’s Centrica to cooperate on LNG activities.
During an LNG forum held in October, Cusi said that the Philippines’ government recognizes the potential of LNG both in the power and non-power sector, and is focused on developing the infrastructure.
He noted then that the Malampaya gas field is serving the major provider of the fuel requirements of three gas-fired power plants will continue the production beyond mid-2020’s, however, there have been no significant natural gas discoveries that can feasibly be brought into production, adding that the incremental gas supplies will have to come from the international LNG market.
Cusi said that the country’s private sector partners have already completed the studies and designs for the floating storage and regasification units (FSRUs).
In 2013, Shell, the operator of the Malampaya gas field was finalizing technical aspects of a front-end engineering design (FEED) study for an LNG facility to deploy in the Batangas Bay area.
According to the latest report, Cusi, who recently visited Japan, invited the Japanese buyers to invest in natural gas prospects in the Philippines.
LNG World News Staff