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Thursday, June 13, 2024

Shell seeks more time to develop LNG project

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Shell Energy Philippines Inc. is seeking a 20-month extension of the notice to proceed on its planned floating storage and re-gasification unit terminal in Tabangao, Batangas.

The Department of Energy earlier issued a 10-month extension on SEPH’s NTP on Oct. 22, 2021. The extension would expire this month.

“They [Shell] are still at the NTP stage. They are still getting permits and financial closing before applying for the PCERM [permit to construct, construct, expand, rehabilitate and modify],” Oil Industry Management Bureau director Rino Abad said.

SEPH’s proposed P3.5 billion LNG terminal project will supply natural gas for power users with the impending depletion of the Malampaya gas field by 2024.

“With its development and operation, the Shell LNG Project will be able to address the anticipated deficit in electrical generation capacity and avoid adverse impacts to economic growth within the region,” the company said in documents submitted to the Department of Environment and Natural Resources.

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