First Gen unit, Prime Infra eye deal on gas facility

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/business/06/01/06012023-first-gen-unitprime-infra-eye-deal-gas-facility.jpg" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/business/06/01/06012023-first-gen-unitprime-infra-eye-deal-gas-facility.jpg"/></figure></div><p>MANILA - A unit of First Gen Corp, and Prime Infrastructure Capital are looking to forge a deal on the use of a liquefied natural gas facility in Batangas City.</p><p>The Lopez-led energy firm said its FGEN LNG Corp and Prime Infra have signed a Memorandum of Understanding for the proposed lease<br/>and operation of the LNG terminal being developed by FGEN LNG within the First Gen Clean Energy Complex. </p><p>&quot;No definitive agreements have been signed by the parties,&quot; First Gen said.</p><p>The Department of Energy has already certified the LNG Terminal as an Energy Project of National Significance.</p><p>FGEN LNG is a wholly owned subsidiary of First Gen Corporation, one of the biggest independent power producers in the country and the leading gas power generation company in the Philippines. </p><p>The Enrique Razon-led Prime Infra meanwhile holds a 45 percent stake in the Malampaya Gas Project.</p><p>President Ferdinand Marcos Jr recently renewed a contract that would allow the continued extraction of natural gas from a portion of the Malampaya gas field for 15 more years.</p><p>The Malampaya contract was supposed to expire in 2024 but this was extended to February 22, 2039, the Department of Energy (DOE) said. </p><p>&quot;The lease of the LNG Terminal will form part of Prime Infra’s proposed gas aggregation strategy that is focused on leveraging its existing Malampaya project facilities, and its expertise in the natural gas market, to ensure a reliable and lowest cost supply of clean gas at stable fuel costs to the country’s natural gas power plants,&quot; First Gen said.</p><p>First Gen Corporation is the primary power generation arm of the Lopez Group of Companies, led by its Chairman, Federico R. Lopez.</p><p>ABS-CBN Corp is part of the Lopez Group.</p><p>news.abs-cbn.com is the official news website of ABS-CBN. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/02/22/prime-infra-completes-acquisition-of-malampaya-operator">Razon&#x27;s Prime Infra completes acquisition of Malampaya operator</a></li>	<li><a href="https://news.abs-cbn.com/business/05/15/23/marcos-renews-malampaya-gas-field-contract-until-2039">Marcos extends Malampaya gas field contract until 2039</a></li></ul><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=2620901" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

A unit of First Gen Corp and Prime Infrastructure Capital are looking to forge a deal on the use of a liquefied natural gas facility in Batangas City.

First Gen unit, Prime Infra eye deal on gas facility | ABS-CBN

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First Gen unit, Prime Infra eye deal on gas facility

First Gen unit, Prime Infra eye deal on gas facility

ABS-CBN News

Published Jun 01, 2023 07:52 PM PHT

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Updated Jun 01, 2023 08:49 PM PHT

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First Gen Corp

FGEN LNG Corp

Prime Infra

Malampaya

clean energy

natural gas

Lopez Group

Enrique Razon

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