Philippines confirms Q1 2023 launch for LNG terminals
The government of the Philippines expects to launch three regasification terminals early next year, bringing in LNG to fuel its 3,000 MW portfolio of gas-fired power plants, Channel News Asia reported September 27.
LNG import terminals operated by Energy World Corp, First Gen Corp and Atlantic, Gulf and Pacific (AG&P) could officially launch in Q1 2023, confirmed Laura Saguin, head of the Philippine Department of Energy's natural gas management unit.
The DoE has sanctioned six LNG import projects due on stream over the next three years to help protect security of supply, with flows from the Udenna Corp.-led Malampaya project - the largest Philippine indigenous gas field - anticipated to dry up by 2027.
Under its Paris Agreement commitments, the Philippines wants to slash GHG emissions by 75% before 2030, compared to a 2020 baseline. But the reduction is largely dependent on financial support from foreign governments and investors.
High-emission coal power plants accounted for 48% of the nation's electricity supply in 2019-2020, when a moratorium on coal was introduced to substantially move toward the government's GHG pledge.
Energy World Corp's 3mn mt/yr LNG terminal is situated in Pagbilao, and would be connected to a 650-MW power station. First Gen has not officially disclosed the capacity of its FSRU, though the vessel chartered from BW LNG has a tanker with 162,524 m3 storage capacity.