Philippines sees 3 LNG import terminals starting operations in early 2023 (updated)

Energy World

27/09/2022 06:30

(Adds details, background)
       MANILA, Sept 27 (Reuters) - Three government-approved
LNG import terminal projects in the Philippines are expected to
begin commercial operations in early 2023, marking the birth of
the country's liquefied natural gas industry, a senior energy
official said on Tuesday.
    The projects are those of Singapore-based Atlantic, Gulf and
Pacific, First Gen Corp,  FGEN.PS , and Australia-listed Energy
World Corp  EWC.AX , said Laura Saguin, head of the Department
of Energy's (DOE) natural gas management division.    
        The three terminals are among six such projects that the
DOE has approved. The three others are expected to come online
within the next three years, including a project proposed by
Shell  SHEL.L .
  
    The Southeast Asian country will need to import LNG to fuel
gas-fired power plants with a combined capacity of more than
3,000 megawatts, as output from its Malampaya gas field in the
South China Sea is expected to start declining this year.
        Malampaya gas is expected to run dry by 2027 without any
further development to boost its output, according to the DOE.
  
 (Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor)
 ((enrico.delacruz@thomsonreuters.com))