Marcos extends Malampaya contract with drilling commitments
The SC 38 consortium must also provide a decommissioning plan and budget, covering wells and facilities. This must include timing and costs, within 30 days of the renewal agreement.
Malampaya
Philippines, US forces simulate Malampaya attack
"It is important for us to ensure the uninterrupted oil supply chain from Malampaya as it accounts for 40% of Luzon’s power requirement. Any interruption to this line may mean a minimum of a 10-hour blackout,” said Carlos.
Philippines greenlights LNG project as domestic reserves shrink
The Philippines has approved a plan to build a small-scale liquefied natural gas (LNG) terminal, adding to six ongoing projects that are expected to boost domestic supply from imports as the Southeast Asian nation’s sole gas field dries up in three years.
Shell completes Malampaya gas divestment in Philippines
Shell (LON:SHEL) has completed the sale of its Malampaya gas field in the Philippines to Prime Infrastructure Capital following regulatory approvals and consent from joint venture partners.
Newly elected Philippines President eyes renewables and nuclear as LNG prices soar
Newly elected President Ferdinand Marcos Jr reiterated his support for more renewable energy, as well as nuclear power, and natural gas, in the Philippines, one of Southeast Asia’s fastest growing economies. The news comes as plans to import maiden liquefied natural gas (LNG) cargoes into the country have stuttered due to surging global prices.
First Gen Philippines LNG import terminal delayed, asks BW to delay FSRU delivery
First Gen’s Interim Offshore LNG Terminal project in the Philippines has been delayed and the company has asked BW Gas to delay the delivery of the floating storage and regasification unit (FSRU) BW Paris from Q1 2023 to end of Q2 or early Q3 2023.
Tycoon Razon to acquire Philippines Malampaya gas project from Udenna, Shell divestment ongoing
Philippine billionaire Enrique Razon will acquire a controlling stake in businessman Dennis Uy’s Malampaya gas project, in a move that may help extend the life of a field that fuels some of the nation’s biggest power plants. Significantly, Shell is also in the process of trying to divest its share of Malampaya.
Shell’s Malampaya divestment stalls as political support crumbles
Shell’s (LSE:RDSA) sale of its 45% share of the Malampaya gas project in the Philippines to Udenna Corporation for $460 million has stalled after the country’s national oil company PNOC blocked the deal amid crumbling political support.
Philippines set for first LNG imports as First Gen and Tokyo Gas seek cargoes
Local utility First Gen Corporation is on track to start importing the Philippines’ first-ever cargoes of liquefied natural gas (LNG) later this year as its receiving terminal nears completion.
Allegations of graft raised over Malampaya deal in Philippines after Shell and Chevron exit
The Philippines' energy ministry yesterday defended the sale of the Malampaya gas project - formerly controlled by a Shell (AMS:RDSA) and Chevron (NYSE:CVX) joint venture - to a company run by an ally of President Rodrigo Duterte, dismissing a graft complaint.
US push for LNG in Philippines paints unrealistic picture, IEEFA says
A recent white paper sponsored by the US Agency for International Development (USAID) promotes the benefits of liquefied natural gas (LNG) in the Philippines. But it makes overly optimistic claims about the financial, economic and environmental benefits of LNG, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
Philippines bets on Sampaguita as Forum prepares to drill in disputed waters of South China Sea
The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
Bleak outlook for Philippines upstream as Malampaya disappoints
Natural declines and underinvestment in new exploration has left Philippine oil and gas production in freefall posing significant risks to future energy security. The risk is particularly acute given how reliant the Southeast Asian nation is on oil and gas for power generation, industrial processes and transportation, warn analysts at Fitch Solutions. But interest from investors has been rekindled.
Svitzer to help First Gen Philippines LNG project
Marine operator Svitzer will provide towage and other vessel support services for First Gen’s Interim Offshore Liquefied Natural Gas (LNG) Terminal in the Philippines for a ten-year term.
Shell’s Malampaya exit bodes well for the Philippines
Philippine tycoon Dennis Uy's Udenna conglomerate struck a deal worth up to $460 million to buy a gas exploration and development company from Shell last week. The deal, which attracted a premium valuation and boosts Udenna’s share in the Malampaya gas field to 90%, is positive for both the Philippines and Shell.
Shell finds $460m buyer for stake in Philippines gas field
Shell has stuck a deal to sell its 45% operating interest in the Malampaya gas field offshore Philippines for up to $460 million.
Philippines approves another LNG-to-power scheme
The Philippines has approved yet another proposed liquefied natural gas (LNG) to power scheme as the country faces a looming gas supply crunch. The latest award, to Vires Energy, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
BW wins FSRU deal for Philippines’ maiden LNG imports
First Gen has awarded a five-year deal that will see Norway’s BW Gas Limited supply a floating storage regasification unit (FSRU) to support its Interim Offshore LNG Terminal project in the Philippines.
Shell seeks foothold in Philippines LNG market
Anglo-Dutch supermajor Shell has received a notice to proceed (NTP) for a proposed liquefied natural gas (LNG) import scheme in the Philippines.
Politics muddy the race for first LNG in the Philippines
The Philippines this week approved yet another proposed liquefied natural gas (LNG) import scheme as the country faces a looming gas supply crunch. However, the latest award, to AG&P, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
Philippine tycoons jostle for Shell’s Malampaya stake
Philippine business tycoons are eager to buy Shell’s stake in the deep-water Malampaya project. However, any potential suitors for the 45% interest, valued at between $250 million and $300 million by analysts at Rystad Energy, will need to bring strong technical skills to eek more gas out of the aging field.
Philippines pushing for upstream renaissance
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.