CNOOC secures a contract for the supply of LNG in the Philippines

CNOOC Gas and Power Trading & Marketing Limited has secured a contract from First Gen Corporation (FGEN) for the supply of around 4.6 million cubic feet of liquefied natural gas (LNG) for the Philippines. The LNG cargo, scheduled for delivery in May 2024, will be received by First Gen Singapore Private Limited, a subsidiary of FGEN at the BW Batangas FSRU in Batangas City. 

This LNG will fuel FGEN’s gas-fired power plants at the First Gen Clean Energy Complex (FGCEC) in Batangas City. The FGEN LNG Terminal is expected to enhance energy security for the Luzon Grid and the Philippines. This contract is the second LNG supply award supporting the company’s goal of expanding capacity to 13,000 MW in the next six years till 2030 with an estimated USD20 billion capital expenditure.