Energy World Corp's Philippines LNG Facility to Start up Early Next Year
Australia’s Energy World Corp. is expected to start operations at its LNG facility in Philippines’ Quezon province early next year in time for the anticipated power supply shortage during the dry season, according to Manila Standard Today newspaper. The company is building the LNG terminal project and the 600-megawatt power plant in Pagbilao, Quezon. In March last year, Energy World Corp announced that state-owned Development Bank of the Philippines (DBP) has agreed to finance the project. First phase of LNG terminal development would involve a 130,000-cubic meter storage tank, regasification facility, jetty, and supporting infrastructure. Phase two will include an additional 130,000-cubic meter LNG storage tank. Terminal will act as a hub for onward distribution of LNG throughout the Philippines.
EWC Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
