The Department of Energy will decide within the year if it will give the notice to Tanglawan Philippines LNG Inc. to proceed with the development of the country’s first liquefied natural gas hub.
Tanglawan, the joint venture of CNOOC Gas and Power Group Co. Ltd., a unit of China National Offshore Oil Corp., China’s largest LNG importer and terminal operator, and Phoenix Petroleum Philippines led by businessman Dennis Uy submitted a proposal to the DOE to build the LNG facility.
“It’s under evaluation, under process. It’s on the final stage. We are rushing it, making sure that the decision coming out will be the correct one. Within the year, hopefully,” Energy Secretary Alfonso Cusi said Tuesday at the sidelines of an investment forum.
“Towards the weekend, hopefully, the report is already on my table so next week we can act on it already,” Cusi said.
Tanglawan was one of the 23 parties that expressed interest to participate in the DoE’s selection of investor who will build the country’s first LNG hub.