Philippines set for 1st LNG imports as First Gen and Tokyo Gas seek cargoes

Manila, January 25 - Neftegaz.RU. Jon Russell, First Gen’s chief commercial officer, said last week:

• As we get ready to utilise LNG, First Gen is preparing to immediately commence the negotiation of MSPAs with interested LNG suppliers to facilitate spot LNG purchases for commissioning and to supplement term LNG supply when needed
• We will soon issue a tender for an LNG supply term contract for an initial five-year term for the period 2023-2027

First Gen, together with its partner Japanese utility Tokyo Gas, is developing a floating storage and regasification unit (FSRU) to start receiving LNG in the 2^nd half of 2022.
Russell said:

• The First Gen LNG team and its partners are working hard on the construction of our LNG receiving terminal, despite the disruptions caused by the COVID pandemic, which is proceeding very well
• It remains on track to be commissioned by the end of 2022 to be ready to start utilising LNG for the 1^st time in the Philippines, with the arrival of the BW Paris FSRU
• The BW Group FSRU will arrive later this year once the construction of the LNG terminal is finished

Adding LNG to the country’s energy mix will help improve the Philippines’ energy security, particularly as the Shell-operated Malampaya field, which supplies the country’s gas-fired power plants, is expected to be largely depleted by 2024.