State-owned Philippine National Oil Co. and Asian Development Bank are set to sign the terms of reference for the guidelines on the selection of unsolicited proposals for the country’s planned liquefied natural gas project.
“We have three prospective partners,” PNOC president Reuben Lista said, adding the guidelines were expected to be signed yesterday (Friday).
“Unfortunately, this is taking us some time to find a partner. Out of the seven proposals, we are considering now three. We enlisted the support of ADB as our consultant,” the PNOC official said.
Lista did not disclose the prospective partners. PNOC earlier said it was considering as many as seven unsolicited bids for planned $2-billion integrated LNG facility.
“We’ll approve the guidelines that we brought up, negotiated with TWG (technical working group) and ADB,” Lista said in a recent Senate hearing.
Lista said PNOC was a vital partner in the development of the country’s first LNG facility because of a pipeline franchise.