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Tuesday, July 16, 2024

First Gen awards LNG contract to Tokyo Gas

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First Gen Corp. of the Lopez Group said Thursday it awarded a contract to TG Global Trading Co. (Tokyo Gas) for the supply of one liquefied natural gas (LNG) cargo of 125,000 cubic meters to be delivered next month to its wholly owned subsidiary First Gen Singapore Pte. Ltd.

FGEN said it awarded the contract to Tokyo Gas following a successful international tender.

The LNG cargo will be delivered by an LNG carrier which will be unloaded into the storage tanks of the BW Batangas floating storage and regasification unit (FSRU) berthed at the First Gen Clean Energy Complex (FGCEC) in Batangas City.

The LNG will be utilized by FGEN’s existing gas-fired power plants which are also located in the FGCEC.

FGEN has a portfolio of four gas-fired power plants with a combined capacity of 2,017 megawatts that have been supplied for many years with gas from the Malampaya field, an indigenous offshore gas field.

This will be the fifth LNG delivery of FGEN. Other previous suppliers are CNOOC Gas and Power Trading & Marketing Ltd., Shell Eastern LNG, Trafigura, TotalEnergies Gas and Power Asia Private Ltd.

FGEN LNG constructed its interim offshore LNG terminal and executed a five-year time charter party for the charter of the BW Batangas, which will provide LNG storage and regasification services.

FGEN teamed up with Tokyo Gas for the IOT terminal, with FGEN LNG Holdings owning 80-percent shareholding and Tokyo Gas having 20 percent, once finalized.

FGEN officials earlier said they were looking at expanding their LNG partnership to include gas procurement and the possibility of building new terminals.

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