Friday, September 27, 2019

DOE Approves NTP for Excelerate’s FSRU LNG Facility

Wazzup Pilipinas!

The Department of Energy (DOE) on 20 September approved the Notice to Proceed (NTP) of the US-based firm, Excelerate Energy L.P., for the development of a liquefied natural gas (LNG) floating storage & regasification unit (FSRU) facility in Batangas.

Excelerate has a fleet of nine operating FSRUs worldwide. The proposed FSRU LNG Facility in the Philippines will have a storage capacity of 150,000 cubic-meters, to be located at about 9.5 kilometers offshore in the Bay of Batangas.

Secretary Alfonso G. Cusi said, “As proposed, by the third quarter of 2021 we are expecting that Excelerate’s FSRU LNG facility will commercially operate. With our continuing efforts to provide energy security, especially since we are anticipating the depletion of Malampaya gas, the establishment of LNG facilities bring a promising future for the country."

Within six months from the issuance of the NTP, Excelerate has to comply with the Permit to Construct (PTC) requirements, which are the submission of permits from various government agencies and endorsements from Local Government Units. They are also required to submit the proof of financial closing to the DOE.

Subsequently, the DOE will issue the PTC authorizing the actual construction of the FSRU LNG facility, in accordance with the Department Circular No. 2017-11-0012, or the “Rules and Regulations Governing the Philippine Downstream Natural Gas Industry”, upon compliance to the PTC requirements.

Based from the work program submitted by Excelerate, the completion of construction and commissioning of the facility will take around two years (October 2019 to June 2021) and the scheduled commercial operations date is on the third quarter of 2021.

SMC Global Power Holdings Corp. (SMC GPHC) also expressed their interest to be the target power customer of Excelerate. Starting January 2022, SMC GPHC will require a supply of natural gas for a continuous period of at least 15 years at commercially viable tariff rates of their existing and future Gas Fired Power Plants with a total gross capacity of up to 1,800 MW on a baseload basis.

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