First Gen Corp., a prominent player in the energy sector and a subsidiary of the Lopez Group, has awarded a contract to
Tokyo Gas, through its unit TG Global Trading Co., for the supply of 125,000 metric tons of liquefied natural gas to the Philippine Stock Exchange-listed company. Delivery is scheduled in July.
The decision to award the contract followed an extensive international tender process conducted by FGen to fulfill the fuel requirements of its gas-fired power plants in Batangas, with a total capacity of 2,017 megaWatts.
Traditionally reliant on gas from the indigenous offshore Malampaya field, FGen is now diversifying its fuel sources. The company has commenced the construction of an Interim Offshore LNG Terminal and secured a 5-year Time Charter Party for the BW Batangas, aimed at bolstering LNG storage and regasification capabilities.
The transportation of LNG from Singapore, where Tokyo Gas will deliver the cargo, will be facilitated by the BW Batangas, a floating storage and regasification unit stationed at the First Gen Clean Energy Complex in Batangas City.
This strategic move heralds a transformative shift in the Philippines’ energy landscape. The establishment of the FGen LNG Terminal is poised to streamline the introduction of LNG, catering to the growing natural gas demands of both current and future gas-fired power plants within FGen’s purview and among its third-party affiliates.
FGen envisions the terminal as a cornerstone in fortifying the energy security of the Luzon Grid and the broader Philippines, marking a significant step towards sustainable and reliable energy solutions.
