Pilipinas Shell is planning to put up a company that will invest in liquefied natural gas import facility, as it reiterates its interest in the development of its LNG business in the country, outgoing country chair Edgar Chua said.
“LNG business the size of that will depend on demand that we have seen in the market and also what type of facility we will put in, is it a floating storage and regasification unit or will it be an onshore facility second, are we going to do it all by ourselves or with partners and what is the phasing of all this,” Chua told reporters in a briefing Tuesday.
Shell had earlier announced that it planned to build LNG facilities to fuel power plants with a combined generating capacity of up to 5,000 megawatts (MW).
The project is planned to be constructed in phases.
In 2013, the company announced its decision to start a front-end engineering and design for an LNG import facility in Batangas.
The government is encouraging investors to develop LNG as this is considered the most viable option to ensure a cleaner and more sustainable fuel mix for the country.
Chua said Shell is flexible on how to proceed with the LNG facility.
“We’re not looking at doing it by ourselves, it can be something in partnership with one or more partners that’s why I cannot give you a fixed amount,” he said. “But it is something we’re very much interested in because we believe LNG provides a very good, clean alternative as far as fuel for the future is concerned.”
The company plans to raise P19.5 billion from its much-delayed initial share sale scheduled for this month.