First Gen Corp. subsidiary FGEN LNG Corp. has selected BW Gas Ltd., Dynagas Ltd., and Hoegh LNG Asia Pte. Ltd. to advance to the next round of tendering to supply a floating storage and regasification unit (FSRU) for its planned 5-million tonne/year LNG terminal offshore Batangas City, Southern Luzon Island, Philippines. The FSRU-based project is an interim solution, allowing delivery of natural gas while an onshore terminal is developed.
FGEN expects the offshore terminal to begin operations third-quarter 2022, supplying power plants in the region. The project includes retrofitting an existing liquids jetty and construction of onshore infrastructure for natural gas delivery to end users.
Earlier this year, FGEN LNG awarded McConnell Dowell Philippines Inc., the terminal’s engineering, procurement, and construction (EPC) contract. First Gen also signed an agreement with Tokyo Gas Co. Ltd. for design, development, testing, commissioning, construction, ownership, and operations and maintenance of the project (OGJ Online, Oct. 7, 2020).
Tokyo Gas would take a 20% stake in the project, pending final investment decision. The floating terminal project will cost an estimated $300 million.