AG&P International Pte. Ltd. (AG&P) announced on Thursday that its liquefied natural gas (LNG) cargo has arrived in the Philippines.
In a statement, the company said its chartered 137,500 cubic meters ISH floating storage unit (FSU) successfully berthed at its import terminal in Batangas Bay, called AG&P’s Philippines LNG (PHLNG).
“With the docking of the ISH at PHLNG for the next decade or longer, AG&P is proudly set to open the first LNG terminal in the Philippines… one with both floating and, shortly, almost equal onshore tank storage, providing near 100% availability,” Joseph Sigelman, chairman and chief executive officer of AG&P, said.
The LNG carrier was leased from ADNOC L&S.
The natural gas will be used to power the 1,200-megawatt Ilijan plant of San Miguel Global Power Holdings Corp.
“As the first cargo of fuel originated in Abu Dhabi and with the long-term presence of the ISH, ADNOC L&S is playing a pivotal role alongside AG&P and San Miguel, our anchor customer, in bringing clean energy to the Philippines,” Mr. Sigelmann said.
“We are proud to see the relationship between the two great nations of UAE and the Philippines grow in this profound way, with PHLNG as a prime case study,” he said.
LNG is being put forward as a solution to the Philippines’ energy needs as the country’s only indigenous commercial source of natural gas, the Malampaya gas field, is expected to start depleting by 2024.
“AG&P’s PHLNG is a landmark development that will serve to kick-start Philippines’ LNG importation and regasification ability, delivering gas to secure the country’s current and future energy demand,” AG&P said. — Ashley Erika O. Jose