Reuters: Philippines' First Gen Seeks Partner for $1 bln LNG Import terminal

The Philippines' First Gen Corp is talking with potential partners for its proposed $1 billion LNG import terminal, the head of the energy firm said on Friday.

First Gen, one of the Southeast Asian nation's biggest power producers, has been under pressure to make a quick decision on whether to build the import facility as it looks to secure long-term supplies of liquefied natural gas for its growing portfolio of gas-fired power plants.

"We have to decide this year who our partners will be," First Gen President Francis Giles Puno told reporters on the sidelines of an industry event.

Puno declined to identify potential partners, but said First Gen was discussing "possible areas of cooperation" in natural gas with firms including Royal Dutch Shell. Shell did not immediately respond to requests for comment.

First Gen expects to make a final investment decision by early next year and could open the onshore terminal around the start of the next decade, Puno said. MORE