State-run Philippine National Oil Co. signed a memorandum of understanding with China Petroleum Pipeline Engineering Company Ltd. to develop liquefied natural gas and other projects.
“PNOC and the China Petroleum Pipeline Engineering Company Ltd. signed an MOU to jointly pursue LNG, refinery and oil depot projects all over the country,” PNOC said.
CPP is an integrated service provider for oil and gas storage and transportation facilities. Its business covers onshore and offshore pipelines, storage facilities, technical services for pipelines, telecommunications and electrical installation and maintenance, above-ground facilities for oilfields, LNG processing and receiver facilities and refinery facilities.
CPP has built more than 100,000 kilometers of oil and gas pipelines, over 200 km of offshore pipelines, 50 refining facilities, 22.5 million tons of LNG terminals and over 100 oilfield processing plants and telecommunication and electricity facilities.
PNOC has been pursuing agreements with various companies to help secure the country’s energy requirements.
PNOC earlier signed an MOU with Dubai-based Lloyds Energy to put up a 1,200-megawatt LNG power plant in partnership with Mitsubishi Corp. of Japan, energy officials said.
The MOU with Lloyds also aims to explore ways to develop LNG facilities and natural gas power plants and other related activities in Bataan and Batangas provinces.
Energy Secretary Alfonso Cusi said Lloyds Energy was preparing the documents to secure permits for the planned merchant LNG power plant.
“Lloyds Energy, together with Japan Mitsubishi, will put up a 1,200-MW LNG power plant…Lloyds is for the merchant power plant whose feedstock is LNG. It is not LNG farm,” Cusi said.
“They’re working on their papers. They’re going to submit it to us. That is the product of our negotiation when we went to Japan during the trip of the president that I think that was something like end of May, early June. That’s just a product of our discussion with the Japanese and Lloyds Energy,” Cusi said.
Cusi said the exact location and the stake to be taken by PNOC in the project were still under discussion.
PNOC president Reuben Lista earlier said the MOU with Lloyds Energy would also explore the viability of oil importation and storage.
Lloyds Energy is a Dubai-based company established in 2013 with the strategic aim of delivering LNG to the global market.
