Shell Finalizing Technical Aspects of Philippines LNG Terminal

Royal Dutch Shell is now finalizing the technical aspect of front-end engineering design (FEED) of its proposed LNG terminal in Philippines.

Pilipinas Shell Petroleum Corp. is currently looking at the Batangas Bay area to put up a floating storage regassification unit (FSRU), the Philippine Star newspaper reported Monday citing a statement by Shell Philippines Exploration B.V. (SPEX) managing director Sebastian Quinones.

Quinones said investors and shareholders of the company would only approve the project if there is a “good and viable plus-minus 10 percent estimate” on the total project cost. He said once the final investment decision is issued, it would take less than three years to build the FSRU LNG terminal, the newspaper reported.

With local gas reserves fast deleting, the Southeast Asian nation is looking to import LNG to meet domestic demand. In addition to Shell, few more energy companies are looking to build LNG terminals in the country.