Four eyeing banked gas of Malampaya

By Alena Mae S. Flores – December 09, 2018 at 07:05 pm
from manilastandard.net

Four companies have expressed interest to purchase the unutilized gas from the Malampaya gas project in northwest Palawan.

“We have positive developments for banked gas. Aside from two existing gas plants, First Gen and Ilijan, now there are two new showing interest,” Philippine National Oil Co. president Reuben Lista said.

First Gen Corp. of the Lopez Group owns natural gas power plants with over 2,000 megawatts of power capacity in Batangas province.

San Miguel Corp., meanwhile, is the independent power producer administrator of the 1,200-megawatt Ilijan natural gas plant.

Lista declined to name the two additional companies interested the banked gas, which the government is offering below the Ilijan natural gas price.

“One is putting a plant in Limay and the other in Batangas. In other words, they are willing to negotiate with me on the price… They have been talking to me verbally  but I requested them to submit an official letter of intent, a proposal,” Lista said.

Sources said the two remaining companies were Limay LNG Power Corp. and China National Offshore Oil Corp.