skip to Main Content

Trans-Asia Studies Pangasinan’s LNG Terminal and Power Plant

Stock Signals Philippines
Follow Us

Stock Signals Philippines

We help our clients become independent stock traders and profitable stock investors. Successful Filipino stock traders and investors need no spoonfeeding.
Stock Signals Philippines
Follow Us

MANILA, Philippines – Phinma Energy Corp.’s subsidiary, Trans-Asia Petroleum Corp., looks into developing Sual, Pangasinan’s liquefied natural gas (LNG) and 380-megawatt (MW) power plant.

The ongoing development of 900-MW coal-fired power plant in Pangasinan worth $1 billion will neighbor the new project. Once it is done, potential partners will be scouted by the company to focus on LNG facilities.

At present, the petroleum company is conducting discussions with those interested in the project’s gas generation and development of both terminal and power plant. There are prospects, but the company is not expected to choose yet.

The power plant is planned to be a merchant plant or have bilateral agreements. It is also considered to be sold through electricity spot market by wholesale.

The petroleum company’s Executive Vice President, Raymundo Reyes, stated that by second quarter of 2017, further talks with potential partners would carry on.

In early 2018, final investment decision (FID) will be made once the petroleum company formed partnerships. Securing the finances will still be done beforehand.

Reyes said that the company is conducting as study on the project’s feasibility, which will be finished by the first quarter of 2017.

The feasibility study comprises options, configurations (terminals or floating storage and regasification unit), and even costing.

Malampaya deep water gas-to-water project nears its exhaustion by 2022 or 2024. Relatively, Trans-Asia announced that it looks into new fuel sources through LNG sector.

Aquino administration previously stated that energy is aimed to be sourced from natural gas, coal, and renewable energy by 90 percent. This leaves other sources like oil with only 10 percent.

Phina Energy engages in oil development, production, and exploration. The company also ventures in generation and trading of power.

The energy company is expected to cover a wide petroleum industry scope since Trans-Asia will involve storage, transportation, and whole petroleum products marketing.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Member Login

Forgot Password?

Join Us!

Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.

Back To Top