AG&P boosts pipeline with $360M in new projects
MANILA -Infrastructure development firm Atlantic, Gulf and Pacific (AG&P) Industrial will be developing $360 million worth of projects across the globe as part of its long-term goal to bring down the world’s carbon emissions.
The five projects had been awarded in the first quarter of this year, AG&P said in a statement on Tuesday.
These are a 15-megawatt (MW) data center and energy building in the Philippines, an offshore jetty project, a clean fuels refinery upgrade project in Australia, a module fabrication facility in Europe and a liquefied natural gas (LNG) terminal expansion contract in the Middle East.
“AG&P is proud to be delivering clean fuel upgrades to leading international refineries and petrochemical plants, digital infrastructure and another state-of-the-art LNG terminal, plus critical facilities, to continue the rapid development of the Philippine economy.
We look forward to a busy rest of 2023, with a special focus on LNG and gas,” said Joseph Sigelman, AG&P Group chair and chief executive officer.
AG&P Industrial is a fully owned subsidiary of the AG&P Group, a global downstream LNG infrastructure platform that develops LNG import terminals and regasification facilities.
Construction of the offshore jetty project, which AG&P is undertaking with a major global oil firm, is expected to begin by the third quarter.
AG&P did not give a timeline for the four remaining projects.
AG&P currently operates an LNG terminal in Batangas province, which recently received the Philippines’ first shipment of LNG cargo.
This is expected to power the 1,200-MW Ilijan gas-fired power plant that is set to resume operations on May 26.
—Meg J. Adonis INQ
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