The Philippines’ Energy Department issued a notice allowing Atlantic Gulf & Pacific Company’s (AG&P), Philippines subsidiary, to develop a liquefied natural gas (LNG) import and regasification terminal in Batangas Bay, south of Manila.
The subsidiary, which is owned by Osaka Gas and the Japan Bank for International Cooperation, will develop the Philippines LNG terminal. The terminal will have an initial capacity of 3 million tons of regasified LNG per year (mmt/y) and an added capacity for liquid distribution.
Additionally, the terminal’s onshore regasification capacity is expected to reach 420 million standard cubic feet per day (mmscf/d) and almost 200,000 cubic meters of storage. The project aims to provide the needed fuel to power plants as well as industrial and commercial customers.
This will be the fifth planned LNG import terminal in the Philippines as the country’s Malampaya gas field is expected to dry up this decade. The other four terminals, which are valued at about 65 $1.34 billion, are awaiting further approvals or financial closure.