FGEN to complete LNG terminal by 2022

MANILA, Philippines — Lopez-led First Gen Corp. has firmed up plans to expand its gas-fired power plant portfolio by another 1,200 megawatts (MW), with its interim liquefied natural gas (LNG) terminal set to be completed in 2022.

The company is ready to put up a new gas-fired power plant at its First Gen Clean Energy Complex in Batangas City, with the interim offshore LNG terminal on schedule to start importing LNG next year.

“The development of the FGEN LNG terminal paves the way to proceed with the Santa Maria project, which, if needed, could be online by late 2024 or early 2025,” First Gen president and CEO Giles Puno said in an e-mail response for project update.

During the company’s stockholders’ meeting last week, Puno said expanding First Gen’s natural gas platform is highly dependent on the availability of fuel.

“The timing of the LNG terminal could not have been better. That would now enable us, once gas is available, to expand our gas platform, including Santa Maria, which is designed to be 2x600-MW power plant,” he said.

As part of its pipeline of projects, the company had previously pre-invested in certain common infrastructure for its expansion projects.

First Gen is carrying out pre-development works and securing permits for the project.

“The additional advantage we have is that if you look at that expansion opportunity, we at First Gen have reinvested in common infrastructure and we are now sort of ready to carry out pre-development works and permits for the project.  We are in a good position to expand, obviously, it’s highly dependent on availability of LNG,” Puno said.