CNOOC wins bid to supply LNG cargo to First Gen

By Alena Mae S. Flores – April 15, 2024, 9:50 pm
from manilastandard.net

First Gen Corp. said Monday it awarded the contract to Chinese supplier CNOOC Gas and Power Trading & Marketing Ltd. (CNOOC) for the supply of liquefied natural gas (LNG) cargo after the conduct of an international tender.

First Gen said in a disclosure to the Philippine Stock Exchange that CNOOC would supply the LNG cargo of about 130,000 cubic meters in May 2024 to its wholly-owned subsidiary First Gen Singapore Pte. Ltd.

The LNG cargo will be delivered by an LNG carrier and unloaded into the storage tanks of the BW Batangas FSRU that is berthed at the First Gen Clean Energy Complex (FGCEC) in Batangas City.

This is First Gen’s fifth tender for LNG supply, but the fourth delivery after the Energy Regulatory Commission allowed First Gas Power Corp. (FGPC) and FGP Corp. (FGP) to use LNG as an alternative fuel supply source to run its gas plants only in the case of the occurrence of a fuel supply force majeure event.

First Gen said the LNG cargo would fuel its existing gas-fired power plants also located in the FGCEC.

The company has a portfolio of four existing gas-fired power plants with a combined capacity of 2,017 megawatts (MW) that have been supplied for many years with gas from the Malampaya field, an indigenous offshore gas field.

First Gen through FGEN LNG Corp. constructed its interim offshore LNG terminal project and executed a 5-year time charter party for the charter of the BW Batangas to provide LNG storage and regasification services as part of the project.