First Gen invites bids for new LNG supply
Lopez-led First Gen Corp. is calling on players in the liquefied natural gas (LNG) market to join its bidding for a new contract supply.
The company, through its subsidiary First Gen Singapore Pte. Ltd., seeks to have a new LNG cargo delivery of about 154,500 cubic meters.
It said the cargo would be shipped to the Subic Bay Freeport in Zambales, where it would be loaded into the BW Batangas, a floating storage regasification unit in the country.
READ: First Gen seeks long-term LNG supply deals
First Gen hopes to receive the LNG shipment by Oct. 14 to 18 of this year.
Article continues after this advertisement“[It would] be utilized by FGEN’s existing gas-fired power plants in the First Gen Clean Energy Complex in Batangas, Philippines,” the statement read.
Article continues after this advertisementThe firm, however, did not clarify if this planned new shipment would be First Gen’s fifth cargo as its deal with a Japanese firm has suffered delays.
Francis Giles Puno, First Gen president and chief operating officer, said last month that the shipment went off schedule because the LNG ship was undergoing repair in Subic.
Japanese firm TG Global Trading Co. bagged the LNG supply contract in June for the delivery of about 125,000 cubic meters, which was supposed to land in the Philippines last July.
The first four LNG deals were awarded to TotalEnergies Gas & Power Asia Private Limited, Shell Eastern Trading (Pte.) Ltd., Trafigura Pte. Ltd., and Chinese company CNOOC Gas and Power Trading & Marketing Ltd.
First Gen has a network of four gas-fired power plants with a combined installed capacity of 2,017 megawatts, with facilities located in Batangas province: San Lorenzo, San Gabriel, Santa Rita, and Avion gas plants.
Puno reiterated at that time the need to secure long-term contracts for LNG to ensure the ceaseless flow of power to the grid.
With long-term supply contracts, Puno said the country may see a “more stable” LNG pricing.
First Gen has been a crucial player in meeting the Philippines’ renewable energy goal as its power plants utilize gas, geothermal, wind, hydro, and solar power.
