Japanese gas retailer Tokyo Gas is partnering Philippine firm First Gen to develop its planned 5.26mn t/yr floating storage and regasification unit (FSRU) at Batangas in the Philippines, which is expected to start up in late 2022.
Tokyo Gas today signed an agreement with First Gen to build the FSRU, which received a construction permit on 23 September from the Philippine government. Tokyo Gas will help build, operate and maintain the FSRU and onshore gas receiving facility with the company paying 20pc of its unspecified costs. First Gen has yet to choose an FSRU supplier, having narrowed its options to a shortlist of three shipowners in July.
The Philippines' fast-developing economy and expected increased demand for gas will help create future opportunities to supply LNG, Tokyo Gas said.
The company is aiming to treble its overseas business by 2030, targeting handling 20mn t of LNG volumes domestically and internationally, according to Tokyo Gas' 10-year business plan.
