First Gen Corp. said its subsidiary FGen LNG Corp. is eyeing the commercial operations of its liquefied natural gas (LNG) import terminal in Batangas before the end of the year.
Both the floating storage and regasification unit and onshore facility segment of the import terminal are undergoing commissioning works, Francis Giles Puno, First Gen president and chief operating officer, said on the sidelines of an event hosted by the Net Zero Carbon Alliance in Pasig City on Monday.
Puno said the company is hopeful all the LNG import terminal components will be connected by the middle of October in order to start the systematic running of the facility.
“By the end of the year, it will be operational and what is left to figure out is how do we supply the market as the LNG market is usually pricier during the winter. Preferably, it will be more affordable during summer months,” Puno said.
First Gen, as a power generation company, has a combined capacity of 3,500 megawatts (MW) with a portfolio utilizing natural gas, geothermal, hydroelectric, wind and solar power technologies.
First Gen also plans to spend as much as $20 billion until 2030 to add up to 9,640 MW capacity and achieve a total portfolio of around 13,000 MW by that time.
