The complex situation arose due to the absence of a firm gas supply agreement between different stakeholders like
LNG importers, gas utilities and power producers.
The barge will have capacity of 5,400 cubic meters (cbm) of
LNG stored in four 1,350-meter tanks.
Train 1 is part of Phase one of the Cameron
LNG liquefaction-export project that covers a projected export capacity of 12 million tonnes per annum of
LNG, or around 1.7 billion cubic feet per day of natural gas.
The
LNG hub will be built in the First Gen Clean Energy Complex (FGCEC) in Barangays Santa Clara, Santa Rita Aplaya and Bolbok, Batangas City, under the management and ownership of FGEN
LNG.
MOL made an official decision to participate in the Yamal
LNG Project in July 20143, and the construction of the vessels commenced in May 2016.
At present, two
LNG terminals are handling over 1100 mmcfd
LNG.
This was expected as there has been a surge in the demand for
LNG around the world.
Amin Nasser, Saudi Aramco's CEO & President, said,"The agreement with Sempra
LNG is a major step forward in Saudi Aramco's long term strategy to become a leading global
LNG player.
It also includes the negotiation and finalisation of a 25% equity investment in Phase 1 of Port Arthur
LNG, said a statement.
He said that the firm has strictly followed the
LNG Policy 2011 including PQA guidelines for the establishment of
LNG project on a build-operate-and transfer basis and has also completed technical studies by incurring a cost of $10 million but the PQA has failed to award the LoI.
Aramco doesn't currently produce
LNG, and any such sale would be first of its kind.
PQA has identified Jharri Creek/ChanWaddo area for establishment of additional
LNG terminal because locating
LNG terminal in this place will have no adverse impact on normal port traffic as the site is on alternative channel away from the main port which would be connected through a pipeline network of about 25 KMs.
