First Gen unit to finish construction of LNG terminal in Q1 2023

BY LENIE LECTURA – SEPTEMBER 8, 2022
from Business Mirror

FGEN LNG Corp. (FGEN LNG), a wholly-owned subsidiary of First Gen Corp. (First Gen), said Wednesday it expects to complete the construction of its Interim Offshore LNG Receiving Terminal by the end of the first quarter of next year.

This after First Gen announced that it will rename the floating storage regasification unit (FSRU) that will be used for FGEN LNG’s project from the “BW Paris” to the “BW Batangas.”

In April 2021, FGEN LNG and BW LNG executed a 5-year Time Charter Party (TCP) for the charter of the “BW Paris” and it is intended that the name change to “BW Batangas” will be carried out before its deployment to the First Gen Clean Energy Complex in Batangas City by the end of the second quarter or early third quarter of 2023.

The “BW Batangas” will serve to provide LNG storage and regasification services to First Gen’s existing and planned gas-fired power plants and other third-party terminal users.

The LNG project, meanwhile, will accelerate the ability to introduce LNG to the Philippines, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.   FGEN LNG also said the project will play a critical role in ensuring the energy security of the Luzon grid, particularly as the indigenous Malampaya natural gas resource continues to decline.

“BW LNG is proud to be working closely with FGEN LNG to ensure the timely delivery of the Interim Offshore LNG Receiving Terminal. We are honored that our FSRU will serve a critical role in meeting the energy needs of Batangas, Luzon, and the Philippines at large.

The naming of ‘BW Batangas’ aims to affirm and strengthen BW Group’s commitment to the Philippines. We hope that this is only the beginning of our participation in the Philippines’s energy transition and our direct contribution to the economic growth and development of Batangas Bay, Batangas City and Batangas Province,” said Akbar Sha, Head of Gas Solutions at BW LNG.

First Gen is a leading gas power generation company with approximately 2,000 MW in operating gas plants. First Gen intends to introduce LNG to the Philippines to supplement the declining natural gas supply from Malampaya.