AG&P RECEIVES NOTICE TO PROCEED WITH PHILIPPINES LNG TERMINAL DEVELOPMENT

KUALA LUMPUR, March 8 (Bernama) -- Atlantic Gulf & Pacific Company of Manila Inc (AG&P) has been issued the Notice to Proceed (NTP) by the Philippines’ Department of Energy (DOE) for its LNG import and regasification terminal development.

According to a statement, the terminal is located in Batangas Bay on the main island of Luzon, called the Philippines LNG (PLNG).

PLNG will store LNG and dispatch natural gas to power plant, industrial and commercial customers and other consumers, opening up a new era of clean, efficient fuel and doing its part for the Philippines to compete for and win investment and jobs in the upcoming years.

PLNG will have the initial capacity to deliver up to 3.0 MTPA of regasified LNG, with additional capacity for liquid distribution.

On day one, PLNG will have a scalable onshore regasification capacity of 420mmscfd and almost 200,000cbm of storage that will ensure high availability and reliability of natural gas for its customers.

AG&P has already completed its pre-development work for PLNG, which is expected to be commissioned by summer 2022.

The DOE approved AG&P’s NTP application in line with its commitment to make the Philippines a regional LNG hub in Southeast Asia.

AG&P President (LNG Terminals & Logistics), Karthik Sathyamoorthy said the terminal was a landmark development for the country that would accelerate industrialisation, create jobs, lower pollution and trigger overall economic and social progress.

-- BERNAMA