April 18, 2019 [Business World] – PHOENIX Petroleum Philippines, Inc. has strengthened its partnership with its Chinese counterpart in the planned liquefied natural gas (LNG) import terminal in Batangas with a visit to a facility in Tianjin, China that can serve as a model for the local project.
PHOENIX Petroleum Philippines, Inc. has strengthened its partnership with its Chinese counterpart in the planned liquefied natural gas (LNG) import terminal in Batangas with a visit to a facility in Tianjin, China that can serve as a model for the local project.
In a disclosure to the stock exchange on Tuesday, Phoenix Petroleum said Henry Albert R. Fadullon, its chief operating officer, met with officials of CNOOC Gas and Power Group Co., Ltd. to check the foreign company’s technical expertise and capability in building and running gas plants.
Mr. Fadullon, who was also with Philippine National Oil Co. (PNOC) President and CEO Reuben S. Lista, met CNOOC officials led by Shan Tongwen, the LNG project’s general manager, and Peng Yanjian, its technical director.
On Feb. 28, 2019, Phoenix Petroleum signed a memorandum of understanding (MoU) with state-led PNOC and China’s CNOOC to jointly explore business opportunities in the LNG hub project.
A separate MoU was first forged between the oil company led by Davao City businessman Dennis A. Uy and CNOOC on June 5, 2018 to develop a receiving terminal for imported LNG in the country.
Phoenix Petroleum described CNOOC’s Tianjin LNG terminal as having a storage capacity of 96 million cubic meters. It has three submerged combustion vaporizers and four booster pumps.
“Together with the regasification terminal, the facility also has 31 truck loading skids. At present, the terminal’s gas sendout production has already reached 1,500,000 tons per year and provides 2,500,000 tons per year for truck loading,” it said.
In the Philippines, the three groups signed the MoU after a series of engagement talks that allowed them to explore and discuss business opportunities and cooperation in relation to the equity investment in Tanglawan Philippine LNG Inc., the project entity for the project.
The Tanglawan LNG project will have a regasification and receiving terminal with a capacity of 2.2 metric tons per annum. Its commercial operation is targeted to start by end-2023.
“The facility will help support the demand for a clean, competitive, and environment-friendly energy source in Luzon, and provide energy security for the country. It also aims to develop a gas-fired power generation facility with up to 2,000 megawatts installed capacity,” Phoenix Petroleum said.
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