First Gen Kicks off Philippines LNG Project
Manila-listed First Gen held May 28 the ground breaking ceremony for its planned LNG receiving terminal and said it has completed “significant” pre-development work in Batangas City.
Last year, Japanese utility, Tokyo Gas, signed an agreement with the Philippines' biggest independent gas-fired power plant operator to develop an LNG receiving terminal. Tokyo Gas has a 20% participating interest in FGEN LNG Corporation, a wholly-owned subsidiary of First Gen Corporation.
First Gen has about 2 GW in operating gas assets composed of four gas-fired power plants – the 1-GW Santa Rita plant, the 500-MW San Lorenzo plant, the 414-MW San Gabriel plant and the 97-MW Avion plant – all of which operate on Malampaya gas supply.
Once completed, the LNG terminal will allow the country to import LNG and ensure a continuing stable supply of clean energy once the Malampaya gas field is depleted, First Gen said.