State-run Philippine National Oil Co. and local firm BERGS Energy Solutions and Technology Corp. (BESTC) are exploring a partnership to develop a 1,200-megawatt natural gas-fired combined cycle power project and a floating storage regasification unit in Bataan.
The two companies signed a memorandum of understanding on Feb. 10, 2026 to study the business arrangement for the facility, which would be located at the 237-hectare PNOC Industrial Park in Mariveles.
The project aims to provide lower electricity prices, meet growing energy demand and support government efforts to transition toward cleaner energy sources.
The memorandum of understanding, effective for two years, allows both parties to conduct feasibility studies before entering into a definitive agreement.
PNOC president and chief executive Ma. Cristina Sheila Cabaraban and PNOC senior vice-president for energy business Graciela Barleta signed the agreement on behalf of the government corporation. BESTC president Bernardo Babaran and BESTC officer Antonio Rivera represented the local firm.
The signing was also attended by PNOC senior vice president for finance and administrative services Josephine Cassandra Cui and BESTC officers Katrina Borja and Joseph Hansel Babaran.
The Bataan industrial estate is a government-owned property designed for energy-related industries and includes a private port. The latest move follows PNOC’s ongoing efforts to secure partnerships for liquefied natural gas (LNG) projects.
In 2024, PNOC and Indonesia’s PT Pertamina (Persero) signed a separate agreement to advance collaborative development in LNG and other energy sectors. Under that partnership, the two companies are exploring opportunities in the Philippine LNG market, including the establishment of gas infrastructure to meet rising energy demands in both nations.
The collaboration with Pertamina reflects a regional commitment to energy security, economic growth and a low-carbon future.
