PNOC, Lloyds Sign LNG MoU: Report
State-run Philippine National Oil Co. (PNOC) and Lloyds Energy have signed a memorandum of understanding to explore the possibility of developing LNG facilities in Philippines, Philstar reported June 26.
PNOC said it signed a MoU with Lloyds Energy to “explore cooperative ways for the development of LNG facilities and natural gas generation plants and other related activities” in government properties in Limay, Bataan, Bauan, Batangas, and Mabini, Batangas, the newspaper reported.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The MoU also explores the viability of oil importation and storage, the state-run firm said. PNOC CEO Reuben Lista said the team-up with Lloyds Energy would not affect its prospective partnership with Phoenix Petroleum Philippines and China’s Cnooc.
“Both are exploratory and without exclusivity clauses. These steps will encourage also the private sector to consider these directions,” he said.
In March this year, Phoenix Petroleum and Cnooc signed a MoU with PNOC to allow PNOC to be part of the LNG project being developed by Tanglawan Philippine LNG —a joint venture between Phoenix and Cnooc.
The MoU with Lloyds will also allow PNOC to provide a strategic alliance in further developing the Tanglawan LNG project, with the government-run corporation’s involvement in the areas of pipeline infrastructure and franchise, banked gas, equity, and other marketing opportunities, Philstar reported.