Phoenix Petroleum plans LNG terminal
Independent oil company Phoenix Petroleum announced that it has signed a memorandum of understanding with China’s largest oil company, China National Offshore Oil Corp., (CNOOC) last Wednesday in exploring the possibility of operating a liquefied natural has (LNG) terminal in the Philippines.
After having acquired the former Gas Petronas (now Phoenix LPG added in its line of fuels) and recently launched Phoenix PULSE Technology, Phoenix Petroleum has upgraded its potential by partnering with CNOOC in making possible the development of a receiving terminal of liquefied natural gas in the counThe try, considered a more economic source of energy compared to black products like oil and diesel.
“If you ask why (we chose) LNG, it’s a cleaner fuel for the company. It’s a cleaner alternative to your fusion type of fuel. So we’re in the planning and studying stage and hopefully, if it bears good, we will be operating an energy terminal in the Philippines to supplement the other energy terminals in the country,” said lawyer Raymond Zorilla, senior vice president for external affairs, business development, and security for Phoenix Petroleum.
LNG also has a high energy content, reducing the total amount of energy needed, contributing to the improvement of product quality and reduction of maintenance cost.
“No details yet, but we will start studying already the options, (because) one thing, we need land. I cannot share anything yet, but we will explore already the possibility,” said Zorilla, when asked for a target date on the implementation of the project.
He also added that they envision a one-stop shop Phoenix station that has ATM/ banking services, money remittance, quick service restaurants, laundry, and other non- fuel related businesses. /