CNOOC to supply LNG cargo to Philippines' FGEN
Manila-listed First Gen Corporation (FGEN) has awarded a contract to CNOOC Power Trading & Marketing, a subsidiary of China National Offshore Oil Corporation (CNOOC), for the supply of one LNG cargo, it said on April 15.
CNOOC will deliver approximately 130,000 m3 of LNG in May on a delivered ex-ship basis. The cargo will be unloaded into the storage tanks of the BW Batangas FSRU which is currently berthed at the First Gen Clean Energy Complex (FGCEC) in Batangas City.
FGEN operates a portfolio of four gas-fired power plants with a combined capacity of 2.01 GW. These plants have relied on the Malampaya field for many years. The company believes the LNG project will play a critical role in ensuring the energy security of the Luzon grid and the Philippines, particularly as the indigenous Malampaya natural gas resource is expected to decline in the next few years.
FGEN LNG, a unit of FGEN, has executed a five-year time charter party for the BW Batangas, which will provide LNG storage and regasification services for the project. BW Batagangas was earlier called BW Paris. FGEN LNG and BW LNG executed a five-year deal in 2021 for the charter of BW Paris.
The terminal got its inaugural LNG cargo last year. Shell Eastern LNG supplied one LNG cargo of approximately 154,500 m3 to FGEN's subsidiary, First Gen Singapore.