MANILA, Philippines — First Gen Corp. wholly owned subsidiary FGEN LNG Corp. is targeting to complete the construction of its interim offshore liquefied natural gas (LNG) receiving terminal n Batangas by early next year.
The project, once completed by the first quarter of 2023, will accelerate the ability to introduce LNG to the Philippines to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.
First Gen said the project would play a critical role in ensuring the energy security of the Luzon grid and the Philippines, particularly as the Malampaya natural gas resource continues to decline.
The project was earlier eyed for completion and operations by the fourth quarter, but had been pushed back to next year.
“BW LNG is proud to be working closely with FGEN LNG to ensure the timely delivery of the interim offshore LNG receiving terminal. We are honored that our floating storage regasification unit (FSRU) will serve a critical role in meeting the energy needs of Batangas, Luzon, and the Philippines at large,” said Akbar Sha, head of gas solutions at BW LNG.
“We hope that this is only the beginning of our participation in the Philippines’ energy transition and our direct contribution to the economic growth and development of Batangas Bay, Batangas City and Batangas Province,” Sha said.
BW LNG is part of BW Group, a leading global maritime company involved in shipping, floating infrastructure, deep-water oil and gas production, and new sustainable technologies.
In April last year, FGEN LNG and BW LNG executed a five-year time charter party for the charter of the “BW Paris,” the FSRU that will be used for interim offshore LNG receiving terminal.
FGEN LNG and BW LNG plan to rename BW Paris to “BW Batangas.”
The intended name change to BW Batangas will be carried out before its deployment to the First Gen Clean Energy Complex in Batangas by the end of the second quarter or early third quarter 2023.
“First Gen was keen to demonstrate its dedication to Batangas Province and Batangas City, which have generously hosted our facilities for more than 20 years, and approached BW LNG to ask them if they would be willing to rename the FSRU as the BW Batangas. We are thankful that BW LNG readily agreed to rename our FSRU as BW Batangas before being deployed in the Philippines,” First Gen executive vice president and chief commercial officer Jonatahn Russell said.
“This change is intended to acknowledge the historical, current and future support given by the province of Batangas and by our hosts Batangas City and to underscore our commitment to supporting the energy security of the Philippines. It is also intended as a tribute to all of our colleagues from Batangas in recognition of all of their dedication and hard work,” he said.