PNOC selling unused Malampaya gas
By Jordeene Sheex Lagare – June 25, 2018
from The Manila Times
UNUSED gas from the Malampaya Deepwater Gas-to-Power plant in offshore Palawan province is now being auctioned off, the Philippine National Oil Co. (PNOC) said.
In a recent advisory, the state-run oil company invites interested parties to submit proposals until July 23 to buy 97.67 petajoules (PJ) of the facility’s banked gas.
Each proposal should state the offered price in US dollar per gigajoule, excluding taxes; volume in petajoules; schedule of withdrawal; and a description of how the gas will be used.
But in documents submitted to House Minority Floor Leader Rep. Danilo Suarez last September, the company said it was considering two options in monetizing its banked gas: trade gas stocks overseas or extract and sell them domestically as electricity.
PNOC, however, noted that “international trading may be challenging, since the physical transport of gas is not viable, unless it is converted to a liquid state through liquefaction.”
In September 2009, PNOC acquired from the Department of Energy (DoE) all the rights, benefits, and entitlements of the banked gas, estimated at 108.6 PJ and valued at P14.4 billion.
