The Energy Investment Coordinating Council through the Department of Energy declared the $1-billion liquefied natural gas terminal project of FGen LNG Corp. in Batangas province as an energy project of national significance in accordance with Executive Order No. 30.
“We would like to sincerely thank the Department of Energy for approving our application for the FGEN Batangas LNG Terminal Project as an energy project of national significance. We believe that this project is crucial to ensure the continued operations of the 3.2-gigawatt existing natural gas-fired plants given the expected reduction in gas supply from the Malampaya field up to the expiration of the contracts by 2024,” Jonathan Russell, executive vice president and chief commercial officer of First Gen Corp., said in a statement.
FGen LNG is a wholly-owned subsidiary of First Gen, one of the country’s biggest power players.
“First Gen will continue to work hard to ensure that this project will also be available to allow the development of new gas-fired capacity, with a lower carbon footprint that will support the introduction of more intermittent renewables for the Philippines,” Russell said.