Indonesia’s 2nd biggest oil producer keen on $1-B LNG regasification plan in PH

Indonesian state-owned PT Pertamina is keen on taking part in the development of a $1-billion liquefied natural gas (LNG) regasification hub in the Philippines, according to Trade Secretary Ramon Lopez.

“PT Pertamina [officials]  have expressed their confidence in the country’s economic stability and business environment under the Duterte administration,” Lopez said in a statement. “They wish to partner with us.”

Citing statements from Pertamina corporate marketing director Basuki Trikora Putra, Lopez said the petroleum firm was ready to offer its integrated LNG solutions by investing in either a floating or land-based based LNG regasification plant as well as provide LNG supply.

The trade chief met with Pertamina officials on Jan. 29 to discuss opportunities in the Philippines’ energy sector.

Pertamina, Indonesia’s second-largest crude oil producer after PT Chevron Pacific Indonesia, owns six refineries in their country, with total production capacity of one million barrels a day of petroleum products.

Lopez said Pertamina was also set to meet with officials of the Board of Investments, Department of Energy (DOE) and Energy Regulatory Commission to be apprised of the Philippines’ plans and policies on energy and investment.

Currently, Australian firm Energy World Corp. is nearing completion of its own LNG terminal in Quezon province, along with a 650-megawatt power plant complex.

Last month, the DOE issued a notice to proceed for a planned similar project in Batangas, whose proponent Tanglawan Philippines Energy Inc. is a joint venture between Chinese state firm CNOOC (China National Offshore Oil Corp.) and Phoenix Petroleum Philippines Inc.