US firm Excelerate Energy plans to construct open access liquefied natural gas (LNG) import terminal in Batangas.
Excelerate said its Filipinas LNG Gateway project will not compete with other planned import terminals in the country as its business model is to market to multiple gas users not just in the Philippines but in the entire region.
Ramon Wangdi, president of Luzon LNG Terminal Inc., Excelerate’s local subsidiary, said the facility is intended to be online as early as the second quarter of 2022 and utilize an offshore floating storage regasification unit.
The project will have an import capacity of about five million tons of LNG per annum to be able to supply fuel for up to 4,000 megawatts worth of power generation.
“One distinguishing feature of Filipinas LNG’s third party access model is that it allows all gas users in the region unfettered access to the global LNG marketplace by signing up for regas capacity at the terminal,” Wangdi explained.
He said such model will also allow gas users to enter into shorter term contracts for quantities which meet their specific requirements. – Jed Macapagal
