First Gen set to award LNG terminal contract

First Gen Corp. of the Lopez Group is weighing the award of the engineering, procurement and construction contract between foreign contractors­—Fluor and JGC Corp.–for the $1-billion liquefied natural gas terminal in Batangas with a capacity of five million metric tons.

“We are currently finalizing our EPC tender process. We hope that we will finish that within the next couple of months and after that, we need to make a decision whether continue with more early start works but hopefully leading to an investment decision either late this year or early this year,” First Gen executive vice president and chief operating officer  Jon Russel told reporters after the annual stockholders’ meeting.