MANILA, Philippines — Dubai-based Lloyds Energy is proposing a partnership with state-run Philippine National Oil Co. (PNOC) to develop liquefied natural gas.
In a meeting with PNOC president and CEO Reuben Lista, Lloyds Energy COO David Howe and executive director Brett Wight signified the group’s interest in pursuing several major projects with the state-run oil firm.
The move is intended to enhance and strengthen their relations through the establishment of joint venture agreements and maximize the potential of their expertise and capabilities to develop the LNG industry in the Philippines.
PNOC has decided to run a solicited, competitive tender to select a joint venture partner to develop its planned LNG terminal.
Under the solicited scheme, foreign and local firms are open to join.
The selection will be streamlined to ensure that the project will reach commercial operations before the end of Service Contract (SC) 38 for the Malampaya gas consortium in 2024.
Lloyds Energy, together with China Kaicheng Energy Ltd., has proposed the development and construction of an integrated LNG hub with storage, liquefaction, regasification and distribution facility, as well as a power plant capacity of 200 to 800 megawatts (MW).
Aside from the LNG project, Lloyds Energy will also pursue other projects with PNOC particularly in the development of LNG facilities, oil reserves and the training of Filipino manpower for work in LNG industries in the Philippines and overseas.
“We believe in PNOC’s vision under the leadership of President Lista to invest not only in the development and construction of LNG facilities but also in the training of Filipino workers to improve their skills and abilities and contribute to the growth of the LNG industry in the Philippines,” Wight said.