Manila-headquartered Atlantic Gulf & Pacific Company (AG&P) is the fourth company that was issued by the Department of Energy (DOE) with a notice to proceed (NTP) for its proposed liquefied natural gas (LNG) import facility to be sited at the Batangas Bay. In a statement to the media,...
Meralco PowerGen Corporation, the power investment arm of Manila Electric Company (Meralco), is seriously weighing options to shift investment plans into setting up liquefied natural gas (LNG) facilities instead of the previously blueprinted coal-fired power investments. “We should get into the...
The P65 billion worth of liquefied natural gas (LNG) import terminal projects cornered by the government had been proposed for pioneer incentives availment under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill that is under continued deliberations in Congress....
The Department of Energy (DOE) is reinvigorating the investment landscape so it can entice massive capital flow for P10 trillion worth of energy projects that had been cast under the updated Philippine Energy Plan (PEP). According to Michael Sinocruz, chief of the Planning Division of the...
A price-setting and regulation of liquefied natural gas (LNG) procured through third party access (TPA) shall be subject to a regulation of the Energy Regulatory Commission (ERC), which shall also be crafting the warranted TPA Code for the industry. That has been one of the key recommendations...
PCC rules The Philippine Competition Commission (PCC) has indicated that ‘gas transmission pipelines’ shall not be considered as “public utility’, hence, these investments will not be needing franchise from Congress. This was stated by Atty Christina Faye Condez-De Sangon, legislative and...
The Department of Energy (DOE) has suspended its issuances of certificate of energy projects of national significance (CEPNS) blaming the very slow pace in securing permits and project implementations. The CEPNS was mandated under Executive Order No. 30 that was issued by President Duterte in 2017....
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...
The board of directors of First Gen Corporation approved the declaration of cash dividends on array of its preferred shares that shall be paid to its shareholders by January next year. The company, in its disclosure to the Philippine Stock Exchange (PSE), stated that it will extend cash dividend of...
Ayala-owned upstream petroleum firm ACE Enexor Inc. has kicked off its search for a deep-pocketed and technically experienced partner for its planned oil and gas exploration venture at an offshore block in Northwest Palawan. ACE Enexor Chairman and CEO Eric T. Francia “We’re beginning to...
Lopez-owned First Gen Corporation will start construction works at its interim liquefied natural gas import terminal (IOT) this fourth quarter, following its execution of agreement with Australian firm McConnell Dowell (MCD) as its engineering, procurement and construction (EPC) contractor. The...
Lopez-led First Gen Corporation has posted 12-percent decline in earnings to P9.6 billion (US$190 million) in the three quarters of this year vis-à-vis heftier profitability of P11.3 billion (US$217 million) in the same period last year. Within the January-September period, the company noted that...
