Excelerate Energy has received the Notice to Proceed (NTP) from the Philippine Department of Energy (DOE) to develop a floating LNG import terminal in the Bay of Batangas. The project, Luzon LNG, will supply natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon including the area of Metro Manila.
This abundant and secure source of gas supply will augment the existing gas production from the domestic Malampaya fields, as reserves from these fields begin to deplete.
The proposed project will be located offshore the city of Batangas to minimise the impact to the existing shipping traffic in the area and coastline. The terminal will utilise Excelerate’s state-of-the-art offshore technology specifically designed to perform in extreme weather conditions, like those of the Philippines, and has been proven at Excelerate’s operations in the Gulf of Mexico, the North Atlantic, Israel, and most recently, the Bay of Bengal.
Luzon LNG will combine all necessary elements to meet the region’s natural gas requirements including a fully-integrated turnkey floating LNG terminal, arranging the necessary supply of LNG and distribution of natural gas to end-users across Luzon. Excelerate will develop, design, permit, construct, finance, and operate the terminal.
Following the NTP, Excelerate will seek the necessary permits and raise financing for the project.
For more information visit www.excelerateenergy.com