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MANILA - First Gen Corp said Friday its wholly-owned subsidiary FGEN LNG Corp was eyeing the development of small-scale liquified natural gas (ssLNG) solutions at the First Philippine Industrial Park.
The park can receive LNG via trucks and insulated containers supplied from its FGEN LNG's interim offshore LNG terminal project which will be located at the First Gen Clean Energy Complex in Batangas City, the company told the stock exchange.
With the project, the group can bring in a floating storage and regasification unit (FSRY) on an interim basis, accelerating its ability to introduce LNG to as early as the Q3 of 2022.
FGen LNG said such method would provide "considerable opportunity" for the Philippines due to its geographical conditions.
FGen LNG will focus on developing small-scale LNG solutions in 2 phases. First is the assessment of introducing small-scale LNG to the industrial park and identify a site that can house receiving, storage and regasification facility, it said.
The second phase involves bringing LNG to other islands in the country using small-scale carriers, it added.
“We are excited to democratize the use of natural gas in the Philippines using new technology to create small-scale LNG opportunities in the Philippines by taking LNG supplied in bulk in large LNG carriers to the Project and delivering it in small quantities to new industrial, commercial, and remote customers that have so far been unable to access natural gas due to the large investment and undertaking required to construct traditional gas infrastructure, such as transmission pipelines," First Gen Executive Vice President and Chief Commercial Officer Jonathan Russell said.
First Gen Corp is a clean energy provider whose power plants run on geothermal, hydro, wind and solar, which are clean and renewable energy sources, as well as natural gas, the cleanest fossil fuel.