First Gen in talks with PNOC on LNG project

FIRST GEN Corp. is in talks with stateled Philippine National Oil Co. (PNOC) to discuss the possibility of “working together” to develop a liquefied natural gas (LNG) infrastructure.

“First Gen has been developing an LNG Terminal for the past five years to ensure that its 2,000 MW of operating gas plants will have LNG to replace Malampaya gas when it runs out,” the company, which holds the Lopez family’s energy investments, said in a statement.

First Gen called LNG as the “fuel of the future” since it is “competitive, clean and flexible and complements renewables and storage technologies.” It also noted that LNG infrastructure is vital to the country’s energy security.

“First Gen believes LNG infrastructure can be developed not only in Luzon but also in Visayas and Mindanao which will allow access to gas in the island grids,” it said.

Earlier this week, PNOC President and Chief Executive Officer Reuben S. Lista said he had received more unsolicited proposals for an integrated LNG facility, but that he expects the current 34 proponents to be whittled down as they group together to form more viable partnerships.

“We will give them until the end of June to come with their own study and due diligence,” he said. —