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FGEN LNG Corp. (FGEN LNG), a wholly owned subsidiary of First Gen Corp. (First Gen), has formally issued a tender request for a Floating Storage and Regasification Unit (FSRU) to 3 interested bidders.
It said on Wednesday that it issued a binding tender (BITT) to 3 preferred bidders: BW Gas Limited, GasLog LNG Services Ltd. and Hoegh LNG Asia Pte Ltd.
All 3 completed a non-binding prequalification process, after FGEN LNG received a Permit to Build, Expand, Rehabilitate and Modify (PCERM) from the Department of Energy (DOE).
“BW Gas Limited, GasLog LNG Services Ltd. and Hoegh LNG Asia Pte Ltd are very experienced players in the international LNG industry and we are delighted that they have expressed great interest in providing a suitable FSRU for the benefit of the project and the Philippines.
We expect it to be a difficult choice, but the BITT process is designed to allow FGEN LNG to select the most suitable FSRU and FSRU supplier to meet the project’s needs in order to deliver a safe, reliable and competitive supply of LNG to our customers. ” said Jonathan C. Russell, executive vice president and chief commercial officer for First Gen.
The BITT was issued for FGEN LNG’s Interim Offshore LNG Terminal (IOT) project that will allow FGEN LNG to accelerate its ability to introduce LNG to the Philippines as early as the third quarter of 2022, to meet current and future gas natural gas needs. . -FGEN LNG affiliates and third-party power plants.
An FSRU is a liquefied natural gas transporter (LNGC) that is capable of storing LNG and has an on-board regasification plant capable of returning LNG to a gaseous state and then supplying it directly to the gas network.
The IOT will be built in the first generation clean energy complex in the city of Batangas. It consists of the construction works necessary to modify the existing jetty that will allow you to convert it into a multipurpose jetty and build an adjoining onshore gas receiving facility.
The company has chosen McConnell Dowell Philippines as the engineering, procurement and construction contractor for its IOT project.
Once FGEN LNG preparations are completed for the start of construction of the IOT project, including the design and implementation of improved work and safety protocols and procedures necessary to minimize the impact of Covid-19 on construction personnel and the local community, construction can begin within the last quarter of the year.
Previously, First Gen signed and Tokyo Gas Co., Ltd. signed a Joint Cooperative Agreement (JCA) to jointly pursue the design, development, testing, commissioning, construction, ownership and operations and maintenance of the IOT project.
According to the EQB, Tokyo Gas will have a 20 percent stake in the IOT project and will provide support in development, construction, operations and maintenance work to achieve a Final Investment Decision (FID).
Upon reaching FID under the EQB, the parties will enter into a Final Agreement regarding the IOT project.
The FGEN Batangas LNG Terminal was previously declared by the Energy Investments Coordinating Council through DOE as an Energy Project of National Importance under Executive Order 30.
