Samat LNG pens lease agreement for LNG project in Philippines

Samat LNG Corp, a Philippines-focused small-scale LNG solutions provider, has signed a long-term agreement with the Philippine National Oil Company (PNOC) to lease a 4.5-hectare land for an LNG project at PNOC Industrial Park (PIP) in Limay, Bataan, Philippines.

The agreement was announced by PNOC via LinkedIn on September 22, without disclosing any other details.

Samat LNG was established in 2020 to develop, own and operate LNG import terminals together with LNG's receiving, storage, distribution and wholesale marketing into the Philippines primarily to industrial and commercial customers for power supply and transportation fuel.

The company's proposed Mariveles LNG terminal will be the first small-scale LNG terminal in the Philippines and is designed to handle approximately 200,000-400,000 tonnes/year, according to Samat LNG’s website.

Earlier this year, Samat LNG received the notice to proceed from the Philippine department of energy to move forward with its small-scale LNG project in Bataan.