The Department of Energy (DOE) of the Philippines’ government has reportedly issued the NTP (Notice of Proceed) to AG&P (Atlantic Gulf & Pacific Company of Manila). This NTP is regarding the development of the company’s LNG import as well as regasification terminal Philippines LNG in the Batangas Bay on the Luzon island.
As per the notice, the Philippines LNG will store LNG and deliver natural gas to the power plant, commercial and industrial customers, and other consumers to ensure the delivery of a clean and efficient fuel. The island is expected to have the capacity to offer up to 3.0 MTPA of the regasified LNG, along with more capacity for liquid distribution. Initially, it will have 420mmscfd of the scalable onshore regasification capacity and nearly 200,000cbm of storage to increase the reliability and availability of natural gas for customers. The pre-development of the island has already been started by AG&P and is likely to be commissioned by 2022.
According to the President of LNG Terminals & Logistics at AG&P, Mr. Karthik Sathyamoorthy, the company is thrilled to bring its Philippines LNG Import Terminal online and offer safe and environment-friendly fuel to customers to spur manufacturing and job opportunities in the Philippines. He also expressed appreciation towards the DOE, which has a forward-looking vision for renewable energy, for evaluating the proposal and granting the Notice to Proceed.
Mr. Sathyamoorthy added that the Philippines LNG Terminal will become the landmark development in the region and will eventually boost industrialization, reduce pollution, create jobs, and trigger social and economic growth.
The recent approval of the NTP application by the DOE is in line with its target to advance the Philippines into a regional hub for LNG in Southeast Asia. Philippines LNG will initially serve to kick-start the LNG importation & regasification capability in the region, providing sustainable gas to meet the energy demand at the present and in the future.
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