The Philippines is gearing up for another historic
first.
partner Japanese company- Tokyo Gas Co Ltd and its
local partner First Gen Corp broke ground on their $1 billion (P52.3 billion)
liquefied natural gas terminal project in Batangas City.
FGEN LNG Corp's LNG Terminal project is
"construction ready" following significant pre-development work, the
company said in a statement.
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| For illustration only (photo credit to owner) |
Once fully operational, the project will allow the
importation of liquefied natural gas, ensuring a stable supply even after the
Malampaya gas supply is depleted, the company said.
"Our power needs are still growing…But also
the needs of the world. Because of climate change, it also means we have to go
to cleaner fuels and we think natural gas is really the way to go," First
Gen CEO and chairman Federico Lopez.
As compared to what coal-sourced fuel emit per
kilowatt hour,
The partners led the Japanese ceremony "Kagami
Biraki,"performed to mark "the beginning of something new,"
“We consider that the holding of a Kagami Biraki
ceremony is an appropriate way for First Gen and Tokyo Gas to celebrate our
collaboration, the completion of the significant pre-development work, and the
commencement of the next phase of the development of the project,” Lopez said.
Project completion target was set to be in 2024.
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Report from ABS-CBN News
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