Lopez-led First Gen Corporation has reiterated its commitment to cater to third party end-users once its interim offshore liquefied natural gas (LNG) import facility will reach commercial operations next year.
Relative to the targeted completion of the facility by second or third quarter next year, the company has renamed its chartered floating storage regasification unit (FSRU) to “BW Batangas”, in honor of the provincial host community of the LNG import terminal project.
The FSRU, which has been under a five-year time charter party agreement, was originally christened “BW Paris” as previously announced in the media.
According to the Lopez firm, “BW Batangas will serve to provide LNG storage and regasification services to First Gen’s existing and planned gas-fired power plants and other third-party terminal users.”
First Gen currently owns the largest fleet of operating gas-fired power facilities in the country – namely the 1,000-megawatt Santa Rita; 500MW San Lorenzo; 414MW San Gabriel and 97MW Avion electric generating assets.
“FGEN LNG believes the project will play a critical role in ensuring the energy security of the Luzon grid and the Philippines, particularly as the indigenous Malampaya natural gas resource continues to decline,” the power firm stressed.
In appreciation of First Gen’s fresh round of investment for its LNG terminal project as well as its move to rename the facility as appended to Batangas province, Governor Hermilando Mandanas indicated that this “will allow Batangas to maintain and even increase its solid position as the power base of the Philippines utilizing natural gas as a bridge fuel as we build more renewable energy capacity.”
He added that in his capacity as governor of the venture’s host-province, “I have always been a staunch supporter of clean and affordable energy,” adding that “I applaud First Gen’s efforts in developing its interim offshore LNG receiving terminal located at the First Gen Clean Energy Complex in Batangas City.”
Jonathan Russell, executive vice president and chief commercial officer of First Gen, conveyed that “First Gen was keen to demonstrate its dedication to Batangas province and Batangas City, which have generously hosted our facilities for more than 20 years.”
He noted it was on that precept then that First Gen opted to approach European firm BW LNG “to ask them if they would be willing to rename the FSRU as the BW Batangas”; and the company was able to clinch a thumbs up from its technology provider.
The change in the facility’s name, Russell stated “is intended to acknowledge the historical, current and future support given by the province of Batangas and by our host Batangas City and to underscore our commitment to supporting the energy security of the Philippines. It is also intended as a tribute to all of our colleagues from Batangas in recognition of all of their dedication and hard work.”