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.
The Philippines has approved yet another proposed liquefied natural gas (LNG) to power scheme as the country faces a looming gas supply crunch. The latest
Philippines approves Vires Energy’s application for integrated LNG project
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The Department of Energy (DOE) in the Philippines has approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas.
The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal project.
Philippines DOE Secretary Alfonso G Cusi said: “The proposed integrated natural gas-fired power plant and LNG storage and regasification terminal project of Vires Energy Corporation will boost the attainment of our vision to develop the Philippines as a LNG hub in the South East Asian region.”
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