United Arab Emirates (UAE), one of the world’s wealthiest countries, is looking for investment opportunities in the Philippines and has also invited Filipino businessmen to come to UAE to look at opportunities there.
A platform of the Malampaya Deep Water Gas-to-Power Project off Palawan province is to be installed next year to maintain fuel supply to power plants providing about half of Luzon’s electricity needs. The platform, worth $756 million (P33.68 billion), is part of Phase 3 of the Malampaya project.
The initial report commissioned for the 25-year Philippine natural gas master plan has only just come out, but the Department of Energy (DOE) said the full roadmap to a local gas market could be completed early this year.
First Gen Corp., through subsidiary First NatGas Power Corp., inked engineering and procurement as well as operations and maintenance deals with the Siemens group for the first of the three units of the $600-million San Gabriel combined cycle natural gas-fired power plant project.
The Batangas-Manila (Batman 1) natural gas pipeline may be completed only after 2016 as the Department of Energy (DOE) still awaits proposals from the private sector.
Malaysian national oil company Petronas has announced a multibillion dollar plan to extract, liquefy and export natural gas in western Canada to energy-hungry markets in Asia, officials said.
First Gen Corp. has started preliminary work to prepare for the construction of $1.26 billion (roughly P51.7 billion) worth of natural gas facilities and hydropower plants.
The Department of Energy is pursuing talks with natural gas firms from Canada and Brunei for possible investments in the local natural gas sector, in preparation for the expected exhaustion of the reserves at the Malampaya gas field off Palawan by 2024
Diversifying conglomerate San Miguel Corp. is looking for a major oil or natural gas field overseas as its next major venture.
The local unit of Marubeni Corp. has expressed interest in becoming a supplier of natural gas to the Philippines, once the government is able to put in place all the necessary infrastructure that will make such an undertaking feasible for the Japanese trading giant.
The bidding for the first phase of the $2.1-billion Batangas-Manila (BatMan 1) natural gas pipeline project may be delayed anew as the state-run Philippine National Oil Co. (PNOC) has yet to conduct a study to determine the most feasible mode for the project.
First Gen Corp. of the Lopez group has set aside close to $2 billion (roughly P82 billion) to put up natural gas and hydropower projects over the next five years, in anticipation of the country’s need for additional capacities.
