AsianOil: Philippines clears development of seventh LNG import project

Authorities in the Philippines announced on January 27 that they have greenlit the development of a $67mn small-scale LNG import terminal to provide a source of fuel for power generation. It is the seventh such facility to be approved.

In a statement, the Philippines' Department of Energy (DOE) said it had issued a notice to proceed to Samat LNG Corp., which intends to build the terminal in the Mariveles municipality in Bataan Province, some 60 km north of the country’s capital Manila.

The Philippines is looking to expand LNG-to-power capacity to 3 GW over the coming years, to offset production decline at the Malampaya gas field in the South China Sea. The field is due to reach depletion by 2027.

At the same time, the country is looking to ramp up domestic exploration for gas, to meet growing power demand and phase out coal.

If you’d like to read more about the key events shaping Asia’s oil and gas sector then please click here for NewsBase’s AsianOil Monitor.