HK firm puts P9B project on hold
Quezon LGU raises concerns on gas ventureBy Amy R. Remo
Philippine Daily Inquirer
Hong Kong-based Energy World Corp. Ltd. has temporarily put on hold the construction of its proposed P9-billion liquefied natural gas (LNG) hub terminal and regasification facility in Quezon due to concerns raised by the provincial government.
The company, however, said it was still keen on pursuing the project, which will be the first facility of its kind in the country.
In an interview, Jesus Tamang, director of the energy policy and planning bureau of the Department of Energy, said Energy World had been addressing all issues raised by the provincial government of Quezon concerning the firm’s application for an environmental compliance certificate (ECC).
Tamang did not elaborate on the issues, except to say that it partly concerned the blasting activities being conducted by the company. He said Energy World would need a go-ahead from the provincial government before it could resume activities relating to the construction of the LNG terminal.
Energy World earlier said the proposed hub on Pagbilao Grande Island, Quezon, would be a significant milestone in the development of the Philippines’ natural gas industry. The construction of the facility at its proposed site would help the development of an Asian LNG spot market since Pagbilao is along the international LNG trade routes.
For Energy World, the project will be a strategic step in its plan to increase the supply and availability of LNG in Asia through new markets.
According to the company, the LNG Terminal would be built in two phases. The first involves the construction of a 130,000-cubic meter LNG storage tank, regasification facility, jetty and the installation of supporting infrastructure. The second phase will involve the establishment of another 130,000-cubic-meter LNG storage tank.
The site of the terminal will be adjacent to the existing Pagbilao power plant of Team Energy, which has a 230-kilovolt switchyard in place and a sheltered deep-water berthing for ocean-going vessels.
The company said it had “received very strong interest from financiers and industrialists in the Philippines to co-invest and develop the LNG terminal.”
Aside from the terminal, Energy World is also planning to put up a 300-megawatt combined cycle gas turbine power plant to serve as an anchor buyer of the LNG.
The power plant would be designed to accommodate the latest high-efficiency and environment-friendly technology available for gas turbines, thus enabling the Philippines to be a leader in this field, the company said. “It will be one of the most efficient power-producing plants in Southeast Asia which, when combined with the fuel gas from the terminal, will allow highly competitively priced power to be generated and sold from the plant,” the company added.
Energy World was able to secure in January last year the permit to “move forward” the proposed terminal and power plant.
Short URL: http://business.inquirer.net/?p=83730