FGEN sets LNG tender offer

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    First Gen Corp. said its subsidiary, FGEN LNG Corp. has issued a binding invitation to tender (BITT) for the charter of a floating storage regasification unit (FSRU) in Batangas.

    The invitation was issued to three preferred tenderers, BW Gas Limited, GasLog LNG Services Ltd. and Hoegh LNG Asia Pte Ltd.

    FGEN LNG will employ the use of a FSRU to store and transport liquefied natural gas (LNG) and process it back into a gaseous state and allow the company to accelerate its ability to import the said fuel to the Philippines as early as third quarter of 2022. It is being developed to serve the fuel requirements of existing and future gas-fired power plants of First Gen and other power plants.

    “The BITT process is designed to enable FGEN LNG to select the FSRU supplier and FSRU best suited to meet the needs of the project in order to deliver a safe, reliable and competitive supply of LNG to our customers,” Jonathan Russell, First Gen’s executive vice president and chief commercial officer, said in a statement.

    FGEN LNG earlier tapped McConnell Dowell Philippines as engineering, procurement and construction contractor for the project.