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Phoenix Petroleum gets green light for Philippines' first LNG terminal

Gasoil News - Published on Tue, 15 Jan 2019

Image Source: ET EnergyWorld
Reuters reported that Phoenix Petroleum gets green light for Philippines' first LNG terminal MANILA: Philippines firm Phoenix Petroleum said that it has won government approval to build the country's first liquefied natural gas (LNG) import terminal in partnership with China National Offshore Oil Corp (CNOOC). Phoenix, a fuel retailer, said it plans to break ground this year for the LNG regasification and receiving terminal south of the capital Manila, in a country that still relies heavily on coal as a fuel source.

The company said its Tanglawan Philippine LNG Inc unit, which will undertake the project, is partnering with a unit of CNOOC Gas and Power Group Co. Ltd., China's largest LNG importer and terminal operator.

The LNG facility is expected to have a capacity of 2.2 million tonnes per year, with commercial operations targeted to start by 2023, Phoenix said in a regulatory filing.

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Posted By : Joykumar Irom on Tue, 15 Jan 2019
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