First Gen breaks ground on Philippine LNG terminal but FID remains elusive

摘要

Philippine power producer First Gen and joint venture partner Tokyo Gas held a groundbreaking ceremony for their proposed LNG terminal in the province of Batangas this week, despite the partners having not taken a final investment decision (FID) on the facility that will feed First Gen’s gas-fired power generation fleet. First Gen’s wholly-owned subsidiary First Gen LNG (FGEN LNG) said the Kagami Biraki ceremony comes after the joint venture completed “significant pre-development work” on the LNG import facility, which it says is now “construction ready”. Reports suggest FID will be taken on the project either later this year or early next.