News Post
Tanglawan Philippine LNG seek six-month project extension
Tanglawan Philippine LNG Inc., the joint venture of Phoenix Petroleum Philippines and China National Offshore Oil Corp., is seeking an extension of the Notice to Proceed for its $2-billion liquefied natural gas project. Tangalawan’s notice to proceed for its integrated LNG hub project expired on June 22.
Tanglawan is building a regasification terminal in Batangas costing $686 million and a power plant component that is estimated to cost $1.3 billion. Tanglawan is supposed to break ground for the LNG regasification and receiving terminal with a capacity of 2.2 MMtpy in 2019, with commercial operations expected to start by 2023. Tanglawan needs to look for offtake of the power plant to the national grid, by coordinating with Manila Electric Co. Otherwsie, the project may not be commercially viable.
The government has been pushing for the development of the LNG hub by 2024 to secure the country’s power requirements in preparation for the eventual depletion of the Malampaya gas project in northwest Palawan.
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