Tokyo Gas Co. Ltd has signed a joint development agreement regarding the construction and operation of an LNG receiving terminal with First Gen Corp. based in the Republic of the Philippines on 5 December 2018.
This is the first energy infrastructure development activity in which Tokyo Gas has participated in the Philippines.
The project aims to construct and operate the first LNG receiving terminal in the Philippines in order to introduce LNG as an alternative source of the indigenous gas field, which is expected to decrease in production and to be depleted in the near future.
First Gen is a power generation company and a subsidiary of Lopez Group, a conglomerate in the Philippines. First Gen is the largest natural gas consumer and owns approximately 60% of gas-fired power plants in the nation.
Read the article online at: https://www.tanksterminals.com/terminals/06122018/tokyo-gas-and-first-gen-sign-lng-receiving-terminal-agreement-in-philippines/