energy-pedia general news
Philippines: Phoenix Petroleum gets green light for US2 bln LNG terminal
11 Jan 2019
Philippines firm Phoenix Petroleum said on Friday it has won government approval to build the nation’s first liquefied natural gas (LNG) import terminal for $2 billion, in partnership with China National Offshore Oil Corp (CNOOC).
Phoenix, a fuel retailer, said it plans to break ground this year for the LNG regasification and receiving terminal south of the capital Manila, in a country that still relies heavily on coal as a fuel source.
The company said its Tanglawan Philippine LNG Inc unit, which will undertake the project, is partnering with CNOOC Gas and Power Group Co Ltd, a unit of CNOOC and China’s largest LNG importer and terminal operator.
The LNG facility is expected to have a capacity of 2.2 million tonnes per year, with commercial operations targeted to start by 2023, Phoenix said in a regulatory filing.