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Manila Bulletin devider Business devider FGen awards LNG cargo contract to TotalEnergies

FGen awards LNG cargo contract to TotalEnergies

Published Dec 21, 2023 08:48 am

At A Glance

  • First Gen Corp. (FGen) awarded a contract to TotalEnergies Gas & Power Asia Private Ltd. (TEGPA), which allows them to deliver one liquefied natural gas (LNG) cargo in Batangas.<br>TEGPA will carry out 154,500 cubic meters (m3) of supply into the storage tanks of the BW Batangas Floating Regasification Storage Unit (FSRU).<br>FGen constructed its Interim Offshore LNG Terminal Project to boost energy security in the Luzon Grid.

Following a successful international tender activity, the Lopez-led First Gen Corp. (FGen) has granted a contract to TotalEnergies Gas & Power Asia Private Ltd. (TEGPA) for the provision of liquefied natural gas (LNG) cargo in Batangas.

In a disclosure to the Philippine Stock Exchange on Thursday, Dec. 21, the FGen said that the deal would allow TEGPA to deliver one LNG cargo with approximately 154,500 cubic meters (m3) of supply.

According to FGen, the TEGPA gas cargo will be unloaded into the storage tanks of the BW Batangas Floating Regasification Storage Unit (FSRU), which transports, stocks, and re-gasifies onboard LNG.

The FSRU is currently anchored at the First Gen Clean Energy Complex (FGCEC) in Batangas City.

Moreover, FGEN will utilize TEGPA’s LNG for the gas-fired power plants placed in the FGCEC.

FGen currently has four gas-fired power plants with a combined capacity of 2,017 megawatts (MW).

The plants receive their supply from the Malampaya indigenous offshore gas field.

The cargo is set to be delivered by February 2024 to FGEN Singapore, its wholly-owned subsidiary through a delivered ex ship (DES) basis.

This requires the TEGAP supply to be transported to the agreed-upon port of arrival.

Meanwhile, FGen built its Interim Offshore LNG Terminal Project as well as a 5-year Time Charter Party for the authorization of the BW Batangas.

These actions would provide enough storage for liquified natural gas and other regasification services within the project.

“The FGEN LNG Terminal will accelerate the ability to introduce LNG to the Philippines, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and our affiliates,” FGen said.

The terminal is expected to bolster enough power to secure the Luzon energy grid.

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