Tokyo Gas and First Gen have signed a joint development agreement regarding the construction and operation of an LNG receiving terminal in the Philippines.
This is the first energy infrastructure development activity that Tokyo Gas participates in the Philippines.
The Project aims to construct and operate the first LNG receiving terminal in the Philippines jointly by Tokyo Gas and First Gen in order to introduce LNG as an alternative source of the indigenous gas field which is expected to decrease in production and to be depleted in the near future.
First Gen is a power generation company which is a subsidiary of Lopez Group, one of the conglomerates in the Philippines. First Gen is the largest natural gas consumer and owns approximately 60% of gas-fired power plants in the nation.
Tokyo Gas received Japan’s first ever LNG cargo on November 4th, 1969, and the year of 2019 will mark the 50th anniversary year.
The Tokyo Gas Group will continue to contribute to energy solutions for customers doing business in Southeast Asia and North America and toward building local energy infrastructure in the regions by utilizing its unique technologies and expertise in various energy businesses.
The Tokyo Gas Group is also striving to develop the natural-gas value chain in each region through its partnerships with local energy companies.
Source: Company Press Release