LOPEZ-LED First Gen Corp. is seeking bidders for a new liquefied natural gas (LNG) supply cargo to be used in its gas-fired power plants in Batangas.
The energy company, through its wholly owned subsidiary First Gen Singapore Pte. Ltd., intends to procure 154,500 cubic meters of LNG cargo, according to a bid notice.
The selected bidder is set to be awarded on Sept. 16 and the delivery will commence from Oct. 14 to Oct. 18.
The LNG cargo will be delivered to the Subic Bay Freeport in Zambales, where it will be loaded into the BW Batangas, a floating storage and regasification unit, and then used for the power plants.
First Gen has a portfolio of four existing gas-fired power plants with a combined capacity of 2,017 megawatts located in the First Gen Clean Energy Complex in Batangas. These plants have been supplied for many years with gas from the Malampaya gas field, the country’s sole natural gas provider.
“FGen reserves the right at its sole discretion to cancel the invitation to bid or to reject any or all bids prior to the acceptance of a bid or proposal,” First Gen said.
In June, First Gen announced that it has awarded the contract to Japanese company TG Global Trading Co. for the delivery of its fifth LNG cargo containing approximately 125,000 cubic meters.
The LNG cargo, which was supposed to be delivered in July, has been deferred as the company said it still has residual gas.
FGEN LNG Corp., a subsidiary of First Gen, constructed an interim offshore LNG terminal and executed a five-year time charter party for BW Batangas to provide LNG storage and regasification services.
At the local bourse on Wednesday, shares in the company rose by 0.48% to close at P16.90 each. — Sheldeen Joy Talavera
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