First Gen partners with Tokyo Gas for Philippine investment

MANILA, Philippines — President Marcos has welcomed the investment of Tokyo Gas Co. Ltd. in a liquefied natural gas (LNG) terminal in the Philippines that is expected to help boost the country’s energy requirement.

The Japanese company is partnering with the Lopez-led First Gen Corp. in an LNG terminal project in Batangas, whose construction is now nearing completion.

“And so we are encouraged that in view of Tokyo Gas that it is worth the investment then we feel that we are going down the right path for our country’s energy mix and we are grateful for that vote of confidence that you have shown by your investment in the future of the Philippine economy, the future especially of our energy supply from liquefied natural gas,” Marcos said in a meeting with Tokyo Gas and First Gen officials in Japan last Friday.

First Gen chairman and CEO Federico Lopez went with the President’s business delegation to Japan.

He joined Tokyo Gas officials in reaffirming to the President their commitment to help assure energy security for the Philippines.

First Gen is a clean and renewable energy company, whose power plants run either on renewable energy sources, such as hydro, geothermal, solar, and wind; or on natural gas, considered the cleanest fossil fuel.

These plants have a total installed capacity of 3,492 megawatts.

First Gen’s natural gas-fired power plants located in Batangas currently get their fuel from Malampaya gas field off the shores of Palawan.

First Gen and Tokyo Gas are constructing the LNG terminal to insure fuel for the natural gas plants while there is search for new indigenous gas.

Marcos said LNG has been playing a large role in the country’s energy mix since 2017.

“And this was even before it was decided that LNG would create this large role in our energy mix because we are very much talking about the mix between renewables and traditional at the time. But now we are here and certainly that is the most critical part of our plans for the future,” he said.