Philippines receive seven bids for LNG terminal development
The Philippines have received seven proposals for the development of the liquefied natural gas (LNG) project with an estimated cost of $2 billion.
The technical working group of the state-owned Philippine National Oil Company (PNOC) is reviewing proposals from Lloyds Energy Group, China National Offshore Oil Corporation, Korea Electric Power, Energy World Corporation, PT Jaya Samudra Karunia and PT PGN LNG Indonesia/PT Bosowa Corporindo with a local partner MOF Corp, Manila Standard reports.
The deadline for the bids submission was December 31, but it was later pushed back to January 3, and PNOC spokesperson was cited as saying that Korea Electric Power’s initial bid was returned and the company had not resubmitted a new proposal.
The decision should be reached quickly as the country’s energy secretary Alfonso Cusi is pushing for the construction start before the end of 2018.
According to PNOC’s plans, the facility would be completed by 2020 or 2021, some three years before the expected depletion of the Malampaya gas project.
LNG World News Staff