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First Gen says unit signs 5-year charter deal for its LNG terminal project

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<p>MANILA - FGEN LNG Corp has executed a 5-year deal with BW FSRU IV Pte Ltd for the charter of a floating storage regasification unit for its interim offshore liquefied natural gas terminal project, First Gen Corp said Monday. </p><p>BW FSRU IV Pte Ltd is a subsidiary of BW Gas Limited, First Gen Corp said in a disclosure to the stock exchange.</p><p>First Gen said an FRSU is a liquefied natural gas carrier (LNGC) capable of storing LNG which has an onboard regasification plant capable of returning LNG into a gaseous state and supplying it directly into the gas network. </p><p>&quot;The Project will allow FGEN LNG to accelerate its ability to introduce LNG to the Philippines as early as Q3 2022, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates,&quot; the statement said.</p><p>The FSRU provided by the BW Paris has an LNG storage capacity of 162,400 m3 and a nominal and peak gas send out capacity of 500 MMscfd and 750 MMscfd, respectively, First Gen said.</p><p>BW Paris&#x27; nominal send out capacity is 25 percent more than the production capability of Malampaya &quot;which at its peak produced a maximum gas volume of approximately 400 MMscfd, and which is now declining,&quot; First Gen said.</p><p>The company said BW Paris is also capable of providing ancillary services such as reloading of LNG into trucks and small scale vessels which can distribute LNG to nearby industrial areas.</p><p>FGEN LNG&#x27;s interim offshore LNG terminal project will be built at the First Gen Clean Energy Complex in Batangas City, the company said, adding that it could play a &quot;critical role&quot; in ensuring energy security of the Luzon grid. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/18/21/first-gen-to-begin-lng-terminal-construction-in-april">First Gen to begin LNG terminal construction in April</a></li>	<li><a href="https://news.abs-cbn.com/business/11/12/20/first-gen-says-lng-projects-pushing-through-despite-drop-in-jan-sept-recurring-income">First Gen says LNG projects pushing through despite drop in Jan-Sept recurring income</a></li></ul><div><strong>FROM OUR ARCHIVES:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1654885" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>FGEN LNG Corp has executed a 5-year deal with BW FSRU IV Pte Ltd for the charter of a floating storage regasification unit for its interim offshore liquefied natural gas terminal project, First Gen Corp said Monday. </p>

FGEN LNG Corp has executed a 5-year deal with BW FSRU IV Pte Ltd for the charter of a floating storage regasification unit for its interim offshore liquefied natural gas terminal project, First Gen Corp said Monday.