Pilipinas Shell eyes five import terminals by 2025
Listed oil company Pilipinas Shell Petroleum Corp. has set its sights on developing a total of five import terminals across the country in three years’ time, a move seen to increase competition in the fuel business and ensure supply stability.
“On the timeline, we are looking at the timeline to have five [import facilities] by 2022,” said Pilipinas Shell president and CEO Lorelie Quiambao-Osial at the firm’s annual general meeting held virtually on Friday.
“To be more competitive, we need to be in one major island outside of Luzon and Mindanao,” Pilipinas Shell vice president for supply and distribution Kit Bermudez said.
To date, Pilipinas Shell has two import facilities in Luzon: the Shell Import Facility Tabangao in Batangas with a 263-million-liter capacity and the Subic Import Terminal, northwest of the National Capital Region, with a 54-million-liter capacity.
On the other hand, the North Mindanao Import Facility in Cagayan de Oro City has a 54-million-liter capacity.
Last month, the company broke ground on the fourth import terminal, the Darong Import Facility in Darong in Southern Mindanao.
Article continues after this advertisementThe planned import facility, with a rated 67 million liters of petroleum products, will be the third largest import facility in Pilipinas Shell’s network of terminals.
The facility is a 50-50 joint venture owned by energy company Northern Star Energy Corp. and DMCI Construction and Equipment Resources Inc., the leading engineering-based integrated construction company which will be building the facility.
