FGEN LNG Corp., a wholly owned subsidiary of First Gen Corp., has executed a 5-year time charter with BW FSRU IV Pte. Ltd., a wholly owned subsidiary of BW Gas Ltd., for charter of its 162,400-cu m, floating storage and regasification unit (FSRU), BW Paris. The vessel will be used by FGEN LNG as part of its 5-million tonne/year interim offshore LNG terminal project to be built at First Gen’s Clean Energy Complex in Batangas City, Philippines.
BW Paris has nominal and peak gas send out capacities of 500 MMscfd and 750 MMscfd, respectively. The vessel can also reload LNG into trucks and smaller LNG vessels for distribution elsewhere in the Philippine archipelago.
The project will allow FGEN LNG to bring LNG to the Philippines as early as third-quarter 2022, First Gen said in a stock exchange filing. BW was one of three companies short-listed from the project last year (OGJ Online, Dec. 23, 2020).
The country seeks to replace production from Shell Philippines Exploration BV-operated Malampaya gas field, which peaked at 400 MMscfd and is now in decline, according to First Gen. Malampaya production began in 2001. Shell says gas from Malampaya is used to generate more than 20% of electricity used in the Philippines.