Philippines approves Vires Energy’s application for integrated LNG project

The Department of Energy (DOE) in the Philippines has approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas.

The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal project.

Philippines DOE Secretary Alfonso G Cusi said: “The proposed integrated natural gas-fired power plant and LNG storage and regasification terminal project of Vires Energy Corporation will boost the attainment of our vision to develop the Philippines as a LNG hub in the South East Asian region.”

Obtaining NTP is said to be the first step in developing LNG terminals and other downstream natural gas projects. It offers proponents the authority to receive all relevant permits.

The proponent has to complete all the requirements within the six months validity of the NTP to ensure that the Vires project moves ahead as scheduled.

The company has to submit permits from government agencies, as well as endorsements from the local government units and proof of financial closing to DOE.

VEC proposed a floating storage and regasification unit (FSRU), with nearly 162,400m³ capacity at a site located 1.6km from the south-eastern coastline of Batangas Bay in Barangay Simlong, Batangas City.

The FSRU is a converted LNG Tanker called ‘BW Paris’, which was built in 2009. It has a regasification capacity of up to 3 MTPA.

The DOE said that its proposed LNG terminal and regasification project will feature a turret mooring system for the FSRU, a 1.6km Subsea Gas Pipeline, and a 500MW floating power plant (FPP), which will act as an anchor market.

Additionally, the project will make use of a land area, which is classified as a ‘Heavy Industrial Zone’ for backup fuel supply during gas outage events.

VE’s integrated LNG terminal project is expected to come online in January 2023.