Filipino company First Gen Corp and its Japanese partner Tokyo Gas Co Ltd have conducted the ground breaking ceremony for a $1 billion worth liquefied natural gas (LNG) terminal project in Batangas City on May 28.
The facility, when completed, will allow the importation of natural gas.
The natural gas will be imported condensed in liquid form for portability, and will be processed in the facility for regasification.
“Our power needs are still growing…But also the needs of the world. Because of climate change, it also means we have to go to cleaner fuels and we think natural gas is really the way to go,” First Gen CEO and chairman Federico Lopez told ABS-CBN News.
The LNG facility is expected to be completed by 2024. It will help ensure stable supply even when the Malampaya gas supply is depleted.