MPIC sets expansion of Subic fuel terminal

    The Coastal terminal is the largest petroleum product import terminal in the country.

    Metro Pacific Investments Corp. (MPIC) is conducting feasibility studies on a pipeline from Subic to Clark as well as a pipeline in Metro Manila for the delivery of natural gas fuel, according to its chairman Manuel V. Pangilinan.

    Pangilinan said this is part of the expansion plans for Philippine Coastal Storage & Pipeline Corp. (PCSPC) which MPIC acquired last December.

    PCSPC operates the Subic terminal, the largest petroleum product import terminal in the country .

    In a virtual briefing of the Manila Electric Co. this week, Pangilinan said PCSPC will pursue plans to expand elsewhere.

    “…all of the refineries in this country have shut down or most of them if not all… This country is importing all of its finished petroleum products…That gives quite a lot of business to the Coastal (terminal) but … it needs to… expand its network throughout the country,” Pangilinan said.

    He said potential areas are Davao, Northern Mindanao, Cebu and parts of Luzon.

    Pangilinan has tied in the PCSPC investment to the MVP Group’s other business interests.

    These include PXP Energy’s stake in Forum Energy that holds a 70-percent interest in Service Contract 72 Reed Bank offshore west Palawan which contains the Sampaguita gas discovery.

    The group’s planned takeover of Shell Philippines Exploration B.V.’s 45- percent stake in the operations of the Malampaya gas-to-power project in Batangas is also connected with the new acquisition.

    Pangilinan also said Meralco PowerGen Corp. is considering to shift a project in Atimonan, Quezon to a natural gas powered facility instead of a coal-fired plant.