First Gen’s FSRU BW Batangas arrives in Batangas
First Gen Corporation on June 23 announced that the floating storage and regasification unit (FSRU), BW Batangas, has arrived in Batangas Bay, Philippines. The FSRU was chartered by First Gen's subsidiary, Fgen LNG Corporation, as part of its interim offshore LNG import terminal project.
First Gen said that the FSRU will play a crucial role in ensuring the country's energy supply by storing and regasifying imported LNG to fuel the natural gas power plants at the First Gen Clean Energy Complex in Batangas.
The FSRU will be chartered to First Gen for up to 10 years. BW Batagangas was earlier called BW Paris. Fgen LNG and BW LNG executed a five-year deal in 2021 for the charter of BW Paris.
First Gen believes the project will play a critical role in ensuring the energy security of the Luzon grid and the Philippines, particularly as the indigenous Malampaya natural gas resource is expected to decline in the next few years.