PNOC will redevelop port for OSW developers–exec

By Lenie Lectura – August 18, 2023
from Business Mirror

State-owned Philippine National Oil Co. (PNOC) intends to transform its 19.2-hectare property in Mabini, Batangas into an integration port in preparation for offshore wind (OSW) power development in nearby service contract areas.

PNOC President Oliver Butalid said during a budget hearing on Wednesday evening that this plan is part of the agency’s 5 “high-impact initiatives” for 2024.

“PNOC aims to be a key player in underserved segments of the broad energy industry. Our vision statement communicates that point that we will be a niche player and focus on activities that will impact a long-term energy supply for our nation.

Last month, the PNOC board adopted a new vision and mission statement and as well as new strategy map for next three years. The operative word is to complement. Again, this means that in areas that the private sector would be more effective, PNOC would not opt to operate there,” said Butalid.

The first two goals of PNOC pertain to its existing properties Batangas and Bataan while the remaining three goals, he said, are entirely new initiatives that his office will undertake.

“The 19-hectare PNOC port located in Mabini, Batangas will be transformed into a dedicated integration port to serve the many offshore wind developers with service contracts in nearby areas near Mindoro. The redevelopment of the strategically located port will take about two years just in time for the first offshore wind turbine to be launched in 2026.”

Also, PNOC will “strongly promote” its Bataan industrial park as a liquefied natural gas (LNG) terminal.

“Today, the two LNG terminals are located in Batangas. PNOC will reserve the remaining area of its Bataan industrial park for an LNG terminal. Having an LNG in Bataan will not only improve access of this fuel source to more users but will provide energy security since it will be located far from Batangas,” Butalid said.