Vires Energy Corp., now wholly-owned by A Brown Company Inc. is seeking a long-term gas supply contract and baseload power off-take agreements for its integrated liquefied natural gas project in Batangas.
Published April 27, 2021, 7:00 AM
Another notice-to-proceed (NTP) permit was granted by the Department of Energy (DOE) for the installation of an offshore liquefied natural gas (LNG) import facility for a total of six ventures approved so far.
Approved is Vires Energy Corporation, which was acquired last year of Filipino listed firm A. Brown Company Inc. from Singaporean firm Argo Group Pte. Ltd.
According to the energy department, the targeted LNG import facility will also deploy floating storage regasification unit (FSRU) to be sited in Batangas, where most of the country’s existing gas-fired power fleet are installed.
For the anchor market of the proposed gas import terminal, the DOE specified that the project proponent firm will be setting up a 500-megawatt power generating plant proximate to it.