Philippines okays Vires Energy's LNG-to-power plan
Philippines-based Vires Energy has received approval from the country's department of energy (DOE) for the development of its proposed integrated natural gas-fired power plant and LNG terminal project in the province of Batangas, the DOE said on April 24.
“The proposed integrated natural gas-fired power plant and LNG storage and regasification terminal project of Vires Energy Corp will boost the attainment of our vision to develop the Philippines as an LNG hub in the southeast Asian region,” energy secretary Alfonso G. Cusi said.
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The notice to proceed is valid for six months, during which period Vires must comply with the necessary conditions, which include submitting to the DOE all relevant permits from various government agencies, endorsements from the local government units, and proof of financial closing.
The company has proposed floating storage and regasification unit (FSRU) with approximately 162,400 m3 of storage capacity, to be located 1.6 km from the south-eastern coastline of Batangas Bay in Barangay Simlong, Batangas City. The FSRU is a converted LNG tanker, BW Paris, built in 2009 with a regasification capacity of up to 3mn metric tons/year.
The project will consist of a turret mooring system for the FSRU, a 1.6 km subsea gas pipeline, and a 500-MW floating power plant. The project will also utilise a land area classified as a heavy industrial zone for backup fuel supply of diesel fuel during gas outage events, the DOE said. It is expected to begin commercial operations in 2023.