LOPEZ-LED First Gen Corp. has awarded a contract to Chinese company CNOOC Gas and Power Trading & Marketing Ltd. for supplying a liquefied natural gas (LNG) cargo.
CNOOC will send one LNG cargo of approximately 130,000 cubic meters next month via a delivered ex-ship basis at the port located at First Gen Clean Energy Complex, the company said in a statement.
It will be unloaded into the storage tanks of the BW Batangas, a floating storage regasification unit.
The LNG will be used by First Gen’s existing gas-fired power plants in the complex.
The company has four existing gas-fired power plants with a combined capacity of 2,017 megawatts that have been supplied with gas from the Malampaya field, the country’s sole natural gas provider.
The awarded contract was from the initiated fifth tender process for LNG cargo last month. Based on the bid notice, the delivery window will commence from May 25 to May 31, 2024.
FGEN LNG, a subsidiary of First Gen, constructed an interim offshore LNG terminal and executed a five-year time charter party for BW Batangas to provide LNG storage and regasification services.
The company said the terminal is expected to “play a critical role in ensuring the energy security of the Luzon grid and the Philippines.”
Meanwhile, CNOOC is said to be the “largest offshore oil and gas producer in China,” according to its website.
It has businesses in oil and gas exploration and development, professional technical services, refining product sales and fertilizers, natural gas production and power generation, and financial services, as well as new energy business like offshore wind power. — Sheldeen Joy Talavera
