First Gen has reported that its delayed liquified natural gas (LNG) import project in the Philippines will finish construction by the end of Q1 2023.
The disclosure was made while announcing its intention to rename the floating storage regasification unit (FSRU), provided by BW LNG, that will be used for First Gen’s Interim Offshore LNG Receiving Terminal from the “BW Paris” to the “BW Batangas”.
In April 2021, First Gen and BW LNG executed a 5-year Time Charter Party (TCP) for the charter of the “BW Paris” and it is intended that the name change to the “BW Batangas” will be carried out before its deployment to the First Gen Clean Energy Complex in Batangas City, Philippines by the end of Q2 or early Q3 2023, the developer said in a statement on 7 September.
The “BW Batangas” will serve to provide LNG storage and regasification services to First Gen’s existing and planned gas-fired power plants and other third-party terminal users.
First Gen said it expects to complete the construction of the project by the end of Q1 2023.
The project will accelerate the ability to introduce LNG to the Philippines, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates. FGEN LNG believes the 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 continues to decline.
“The name change acknowledges the historical, current and future support given by the Province of Batangas and by our hosts Batangas City and underscores First Gen’s commitment to supporting the energy security of the Philippines. It is also a tribute to all of our colleagues from Batangas in recognition of all of their dedication and hard work to complete the construction of the Terminal by the end of Q1 2023,” said First Gen chief executive Jon Russell.