$14B in planned LNG infrastructure in PHL at risk of being stranded BusinessWorld 3 hrs ago
Reporter
NEARLY $14-billion worth of planned liquified natural gas (LNG) import infrastructure in the Philippines may be at risk of becoming stranded assets as the cost of renewable power generation drops, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
“All 10.9 GW (gigawatts) of LNG-fired power capacity in the current pipeline with an estimated value of $13.6 billion in total investment is at risk of being stranded as the market adapts to lower cost renewable power generation,” IEEFA, an organization that examines energy markets, trends and policies, said in a report.
BusinessWorld
April 26, 2021 | 12:03 am
VIRES Energy Corp. has secured clearance from the Energy department to proceed with its planned gas-fired power plant, which is integrated with a liquefied natural gas (LNG) storage and regasification facility, in Batangas province.
In a press release over the weekend, the Department of Energy (DoE) said it had approved on April 22 the ânotice to proceedâ for the application of Vires Energy to develop the integrated natural gas-fired power plant and LNG terminal project.
DoE Secretary Alfonso G. Cusi said the project âwill boost the attainment of our vision to develop the Philippines as a LNG hub in the Southeast Asian region.â
Shell unit plans LNG storage vessel in Batangas, says DoE bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
BusinessWorld
March 9, 2021 | 12:03 am
Philippines LNG will be the fifth planned LNG import terminal in the country. BW FILE PHOTO
SINGAPORE Atlantic Gulf & Pacific Co. (AG&P) said on Monday its Philippines subsidiary has received the green light to develop a liquefied natural gas (LNG) import and regasification terminal in Batangas Bay, south of Manila.
The firm, part owned by Osaka Gas Co. Ltd. and the Japan Bank for International Cooperation, said the Philippines’ Department of Energy (DoE) has issued it a notice to proceed to develop the terminal, known as Philippines LNG, which will provide the fuel to power plant, industrial and commercial customers and other consumers.