DOE Approves NTP for Integrated LNG Storage and Regasification Terminal Project

Source: www.gulfoilandgas.com 4/25/2021, Location: Asia

The Department of Energy (DOE) approved last Thursday (22 April) the Notice to Proceed (NTP) application of Vires Energy Corporation (VEC) for the development of their proposed Integrated Natural Gas-Fired Power Plant and Liquefied Natural Gas (LNG) Storage and Regasification Terminal Project in the province of Batangas.

Securing an NTP is the first step in developing LNG terminals and other downstream natural gas projects, which gives proponents the authority to secure all necessary permits and clearances. It is valid for six months, during which period the proponent must comply with the NTP conditions, which includes submitting to the DOE all relevant permits from various government agencies, endorsements from the local government units, and proof of financial closing.

Energy Secretary Alfonso G. Cusi expressed hope that the proponent will be able to complete all the requirements needed within the six months validity of the NTP so that the Vires project will proceed as scheduled.

“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,” Secretary Cusi said.

VEC proposed a Floating Storage and Regasification Unit (FSRU) with approximately 162,400 m3 of storage capacity, to be located 1.6-kilometers from the south-eastern coastline of Batangas Bay in Barangay Simlong, Batangas City. The FSRU is a converted LNG Tanker, “BW Paris”, built in 2009 with a regasification capacity of up to 3 MTPA.

The proposed LNG terminal and regasification project will consist of a Turret Mooring System for the FSRU, a 1.6km Subsea Gas Pipeline, and a 500-MW Floating Power Plant (FPP) which shall serve as an anchor market, which is, thus far, the largest floating power plant project recorded in the country. The project will also utilize a land area classified as a “Heavy Industrial Zone” for backup fuel supply of diesel fuel during gas outage events.

The target commercial operation date of VEC’s integrated LNG terminal project is in January 2023. (DOE)


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