First Gen Corp. of the Lopez Group took delivery of a liquefied natural gas (LNG) cargo from Shell Eastern LNG, securing fuel supply for its natural gas power plants, an executive said Tuesday.
First Gen senior vice president and chief revenue officer Vincent Martin Villegas said at the sidelines of the 4th Philippine Natural Gas Investment Summit the company received the latest LNG cargo in October.
This is First Gen’s fifth cargo delivery and Shell’s second delivery, which will be used by the company’s gas-fired power plants in the First Gen Clean Energy Complex in Batangas province.
Villegas said they have yet to decide whether to order another LNG cargo shipment within the year.
Villegas said the company has been procuring LNG through spot contracts or as needed.
First Gen previously issued an invitation to bid for a single LNG cargo through wholly-owned subsidiary First Gen Singapore Pte. Ltd.
First Gen has a portfolio of four existing gas-fired power plants with a combined capacity of 2,017 megawatts that have been supplied for many years with gas from the Malampaya field, an indigenous offshore gas field.
Other First Gen’s previous suppliers are CNOOC Gas and Power Trading & Marketing Ltd., Trafigura, TotalEnergies Gas and Power Asia Private Ltd.
First Gen subsidiary First Gen LNG Holdings Corp. (FGEN LNG) owns an interim offshore LNG terminal and executed a five-year time charter party for the charter of the BW Batangas, which will provide LNG storage and regasification services.
