Phinma Petroleum and Geothermal Inc. (PPGI) is to revive plans to build an LNG integrated terminal in Cebu, Philippines. The firm reportedly announced in a stockholders meeting that an agreement with three foreign companies was made to jointly develop an LNG-to-power project in Argao, Cebu.
The terminal, which is in the pre-development phase, will include a floating storage and regassification unit, storage, and a power plant with a capacity of 120 MW.
According to reports, PPGI President and Chief Executive Officer, Francisco Viray, said: “The feasibility study will cover the economic viability of the project and that includes the market, cost of LNG, the entire financial picture.”
The project is being developed to serve customers for power, but can be expanded to serve other industries using gas, such as petrochemical producers.
For more information, visit: www.phinmaenergy.com
27th Apr 2018