First Gen unveils LNG storage unit ‘BW Batangas’ in the Philippines
It will provide for the company’s gas-fired power plants.
First Gen Corporation, through its subsidiary FGEN LNG Corp., and BW LNG have unveiled the “BW Batangas,” a floating storage regasification unity (FSRU).
The FSRU, renamed from BW Paris, will provide LNG storage and regasification services to First Gen’s existing and planned gas-fired power plants.
“This will allow Batangas to maintain and even increase its solid position as the power base of the Philippines utilizing natural gas as a bridge fuel as we build more renewable energy capacity,” Hermilando Mandanas, governor of Batangas, said.
The project is expected to be completed by the end of the first quarter of 2023.
It is intended to accelerate the development of LNG in the Philippines. It is also aimed at ensuring the energy security of the Luzon Grid and the country, as its Malampaya natural gas resource continues to decline.
The project started in April 2021 when FGEN LNG and BW LNG entered into a 5-year Time Charter Party (TCP) for the charter “BW Paris.”
After its renaming, the BW Batangas will be deployed to the First Gen Clean Energy Complex in Batangas City by the end of the second quarter or early in the third quarter of next year.