Aboitiz Power unit to invest $1b in LNG complex
By Alena Mae S. Flores – April 30, 2024, 7:45 pm
from manilastandard.net
Aboitiz Power Corp. subsidiary Therma Quezon Energy Inc. (TQE) proposed to develop a 1,310-megawatt combined cycle gas power plant (CCPT) in Pagbilao, Quezon and a liquefied natural gas terminal ((LNG) with estimated project cost of $1 billion.
TQE said in a document submitted to the Department of Environment and Natural Resources the construction of the project would start in 2025. The project is expected to ensure reliable power in the Luzon grid.
Coupled with a high conversion efficiency in power generation, the development of the CCPP and LNG terminal aligns with the evolving energy trends globally to phase-out coal or other hydrocarbons such as diesel oil or condensate. Utilizing LNG for power generation and the construction of this LNG terminal and CCPP is a strategic choice and an important step towards the cleaner energy future of the Philippines,” the company said.
The LNG terminal will deliver natural gas to the power plant at an estimated 1.1 million tons per annum. The terminal will safely store LNG and supply it to the power plant at the required capacity in a reliable manner.
It said LNG is cleaner and more environment-friendly compared to other fossil fuels, producing relatively lower greenhouse gas emissions and contributing to an improved air quality.
The LNG terminal and the power plant will be located in Tayabas Bay along the coast of Pagbilao Grande Island in Barangay Ibabang Polo.
