US group eyes $210-M investment in CNG stations
Callandra LCNG Fuels Corp., a subsidiary of US-based Callandra group, plans to invest up to $210 million to put up mother-daughter compressed natural gas (CNG) stations in the
Randall Antonio, CLCNG president and CEO, told reporters their investment, however, will hinge on the availability of gas supply from the Malampaya gas project in
“We plan to put up our daughter stations by 2008. We’re anticipating investing anywhere between $77 million to $210 million to finance the building of fueling stations in
He said they could consider importing their natural gas requirements should they experience supply problems with the Malampaya group.
“We’re looking at various gas suppliers, ideally from Malampaya, as well importing natural gas from other countries like
He said their plan to invest in the country’s CNG industry will also depend on the Department of Energy (DOE).
“The DOE has given us a commitment, endorsement and is helping us setting the figures to get our accreditation since this will be the very first time our company will establish presence in the
Antonio said the company has strong financial backing from its
“Our strategic partners are all well-experienced in the CNG industry in US and
He said one of their partners, CNG Associates of Southern California, were responsible for the CNG terminal and fueling stations in
CDS of Canada, a CNG engineering firm, and Galileo of Argentina are also part of the Callandra team, he added.
But still, Antonio stressed they are “more of a Filipino company,” with everything to be funded by investors from abroad
We’re hoping, if everything goes well, to have the groundbreaking by early next year or first quarter of 2008.”
Initially, the Callandra group plans to put up a site that would be able to cater to 2,500 buses and expand this to up to 5,000 within seven to 10 years.
“We’re different from the pilot project, so our price may not be comparable with the pilot operator. Ours will be commercial, but rest assured it will be a lot cheaper than by 25- to 30-percent less than diesel pump price,” he said.
The Shell group, being part of the pioneers of natural gas development in the
Last week, Shell inaugurated its daughter station in Biñan, Laguna as part of the pilot CNG project. The facility will fuel up to 200 buses plying the Manila-Batangas routes. The CNG will be sold at P14.52 per liter.
Also backed by Baker-McKenzie, PricewaterhouseCoopers, HSBC, AIG and companies mostly from US and
“Our mission is to create a cleaner in-country environment, while promoting the use of environmentally-friendly and economically cheaper alternative fuel for the challenging and critical Philippine public transportation sector,” Antonio said.
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