UAE shortlisted for $2bn Philippines LNG hub project
The UAE is one of six countries to be shortlisted by the Philippines as a partner to undertake construction of a planned $2bn project
The UAE is one of six countries to be shortlisted by the Philippines as a partner to undertake construction of a planned $2bn project, according to an official.
The Philippine National Oil Company (PNOC) is overseeing the receiving and distribution facility for imported LNG that is expected to be completed by 2020, Reuters reported.
The construction of the project is set to complete four years before the country's Malampaya natural gas field is expected to be depleted, Energy Secretary Alfonso Cusi said last month.
Arwin Ardon, head of the team at the Philippine National Oil Company (PNOC), named local electricity producer First Gen Corp as a potential LNG buyer. The power plant will initially have a capacity of 200 MW.
"(The LNG project) is a complete package with storage facility, regasification, a power plant that is scalable up to 1,000 megawatts (MW), and redistribution," Ardon was quoted as saying during a conference.
The other countries that have been shortlisted include China, Japan, South Korea, Singapore, and Indonesia, though no timeline on when a partner would be chosen was given.