September 29, 2019
Texas-based Excelerate Energy LP has the okay from the Philippines government to begin development of a floating liquefied natural gas (LNG) import terminal in the Bay of Batangas
The Luzon LNG project will supply natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon, which includes Metro Manila.
The company’s offshore technology has been proven at other Excelerate operations designed to perform in extreme weather conditions like those of the Philippines, such as in the Gulf of Mexico, the North Atlantic, Israel, and most recently, the Bay of Bengal.
The supply is intended to “augment the existing gas production from the domestic Malampaya fields, as reserves from these fields begin to deplete,” The Woodlands-based Excelerate said in a statement.
The company’s Energy Chief Commercial Officer Daniel Bustos said, “We look forward to working with the government and private sector for the successful completion of the project that will enable Excelerate to invest in critical infrastructure allowing the country to continue on its current path of tremendous economic growth.”