Lopez-led First Gen Corporation, through its corporate vehicle FGEN LNG Corporation, has formally shortlisted three prospective bidders on its procurement of floating storage regasification unit (FSRU) for its interim liquefied natural gas (LNG) import facility in Batangas.
The company announced that its preferred tenderers are foreign firms: BW Gas Limited; Dynagas Ltd.; and Hoegh LNG Asia Pte. Ltd.; and these were selected after the company had completed initial evaluation of their offers.
BW Gas Limited is subsidiary of the BW Group, which is headquartered in Oslo, Norway; and it is a leader in maritime energy transportation.
On the other, Dynagas is based in Athens, Greece and has wide expertise in regasification projects ranging from FSRU conversions to FSRU new builds; while Hoegh LNG Asia Pte. Ltd. is also a Norwegian company that specializes in the global market of transportation and floating regasification services of LNG.
First Gen is targeting to bring its import facility into commercial stream by the third quarter of 2022, “to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FNG affiliates.”
The Lopez firm previously indicated that aside from power applications, it will also be introducing small-scale LNG technology solutions to industries, especially to locators at economic zones.
In the energy transition paradigm of the Philippines, it is seen that gas will be the viable option as a cleaner energy technology versus coal; while LNG also comes as a ‘best match’ to the generation intermittency of renewables.
According to First Gen, a typical FSRU has a storage capacity of between 125,000 to 170,000 m3; and this facility is capable of storing LNG and has its onboard regasification plant that enables the return of LNG into its gaseous state and then it can be supplied directly to a gas network.
The country will be needing LNG import facility in the coming years, following the anticipated decline in the gas production as well as the expiration of service contract of the Malampaya field.
First Gen has blueprinted two-tiered LNG project development in the county: the interim is FSRU technology installation; and the permanent import facility will be an onshore terminal.
The company has 2,011 megawatts of gas-fired fleets that are all sited at its Clean Energy Complex in Batangas; and it is also eyeing greenfield projects that will add up to its portfolio. (