Natural Gas Depletion Underway In Philippines, Houston Company Plans Floating LNG Facility

January 9, 2019

 

The Houston-area’s Excelerate Energy LP is planning an LNG facility in the Republic of the Philippines, according to a US Department of Energy filing.

The DoE is encouraging development of LNG projects because of the coming depletion of the Philippines’ only natural gas source.

Fast depletion could drop the Malampya deepwater gas field to just one third of its current gas output by 2024 — so storage facilities are needed for imported gas in LNG form.

The DoE would like LNG facilities to get underway quickly with a hoped-for opening next year, but its unclear whether that’s possible.

Excelerate plans a re-gasification facility off the Batangas area on a bay just south of the capital city of Manila.

The proposal by The Woodlands company is being evaluated by DoE technical teams.

Excelerate is the fourth company to apply to build an LNG facility on the Philippine islands — and plans to build a floating facility in the bay and would do so without a local partner, under a full foreign ownership agreement.

Excelerate is also expected to take part in an electricity generation plant as part of its plan.