BE2C2 Report — The UAE is one of six countries to be shortlisted by the Philippines as a partner to undertake construction of a planned $2bn project, according to an official.
“We have offers from China, Japan, South Korea, Indonesia, Singapore and the United Arab Emirates,” Arwin L. Ardon, PNOC technical adviser, told reporters on Thursday on the sidelines of IBC Asia’s Power and Electricity Week, a two-day conference at Solaire Resort and Casino in Parañaque City.
The “megaproject” has several components, including gas storage facility with a capacity of five million tons per annum (MTPA) and a power plant with an initial capacity of 200 megawatts (MW) but scalable to 1,000 MW.
The Philippine National Oil Company (PNOC) is overseeing the project that is expected to be completed by 2020, Reuters reported.
The construction of the project is set to complete four years before the country’s Malampaya natural gas field is expected to be depleted, Energy Secretary Alfonso Cusi said last month.
Arwin Ardon, head of the team at the Philippine National Oil Company (PNOC), named local electricity producer First Gen Corp as a potential LNG buyer. The power plant will initially have a capacity of 200 MW.
Mr. Ardon said the June 30, 2017 deadline for project submission yielded the six proposals, down from the 55 entities that have previously signified interest in what has now become a government-to-government project.
DoE Secretary Alfonso G. Cusi has said that the planned LNG infrastructure is aimed at making the country a hub for the energy resource in Southeast Asia. The facility is planned to be built on a property in Batangas owned by PNOC.