State-owned PNOC joins $2 bln LNG project

State-owned PNOC joins $2 bln LNG project
Image courtesy of PNOC

The Philippine National Oil Company has joined its compatriot Phoenix Petroleum and Chinese CNOOC Gas and Power Corp. on the $2 billion LNG import facility. 

The state-run PNOC signed a memorandum of understanding with the two partners for the development of a liquefied natural gas hub in Batangas.

The signing parties intend to discuss and explore business opportunities and partnerships in relation to the Tanglawan Philippine LNG, a joint venture formed by Phoenix Petroleum and CNOOC Gas and Power for the LNG project.

Also covered in these talks are the PNOC facilities, market developments, PNOC banked gas and other future energy projects.

Tanglawan project is expected to break ground on its regasification and receiving terminal with a capacity of 2.2 mtpa this year.

Commercial operations of the LNG hub is targeted to begin by 2023.

Share this article

Follow LNG World News


<< Apr 2020 >>
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

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >