ATLANTIC, Gulf and Pacific Co. (AG&P) is open to supporting the Philippines’ liquefied natural gas (LNG) push.
AG&P Global Business Development Director Prabh Singh told The Manila Times on Tuesday afternoon that the firm had noted the importance of having the infrastructure capacity to import and use LNG.
“We’re definitely aware that Secretary Cusi has definitely come out and support the fuel. And I think it’s great that they also recognize the need to diversify the energy mix,” he said.
Energy Secretary Alfonso Cusi last month claimed that the Philippines was the de facto LNG transshipment site for Asia even if the preferred regional hub was Singapore.
The Energy chief told reporters an LNG exporter was using the Port of Subic as a transshipment point but declined provide more details.
Cusi said this had bolstered a desire to make the country into an LNG hub to bring in business, create jobs and increase investor confidence.
State-owned Philippine National Oil. Co. (PNOC) is considering monetizing its unused gas stocks from the Malampaya gas field to construct a local LNG facility.
PNOC, which noted that the Malampaya gas field would be depleted by 2024, said it was looking at selling the gas in the international market or extracting and selling the commodity as electricity to domestic buyers. Proceeds from the sale will be used to finance the LNG project.
It said it was close to sealing a deal with the International Finance Corp. on what to do with the unused Malampaya gas.
AG&P, meanwhile, is bolstering its expansion in India and beyond, with a focus on connecting off-grid customers in country to affordable gas supply.
In a statement, AG&P said it had appointed Abhilesh Gupta as global chief financial officer and commercial head to spearhead the expansion in India.
AG&P Chairman Jose Leviste Jr. noted that Gupta was one of India’s recognized experts in commercializing liquefied natural gas (LNG) projects.
“AG&P’s singular objective is to optimize the quantity of LNG through its terminals, underpinned by our scalable designs, on day one,” Leviste said.
AG&P describes itself as a “Philippine-based pioneer of efficient, high value, modular infrastructure for the energy, natural resources and industrial sectors worldwide”.