First Gen Corp. of the Lopez Group is confident of building its own liquefied natural gas terminal, saying the project is “the most feasible” to date.
“The uniqueness of our project is we have our own power plants so the general approach is to create our own option for our LNG and if there are other options out there that is seem to be more competitive than our project, well and good,” First Gen president Francis Giles Puno said.
“At this stage, we believe that our project is the more feasible available today. Unless proven otherwise, our project is the most feasible at this stage,” he said.
First Gen plans to put up an LNG terminal to ensure natural gas supply for its power plants in Batangas with a combined capacity of 2,011 megawatts.
“If the Malampaya contract ends by 2024, so it takes about four years construction so at the latest we should do something 9is) 2020 onwards,” Puno said.
Service contract 38 for the Malampaya gas project in northwest Palawan is due to expire by 2024.