Philippines' PNOC Aborts Search for LNG Project Partner

The Philippine National Oil Company (PNOC) has terminated the process to find a joint venture partner for its proposed LNG hub in the country, it said earlier this month.

“Pursuant to the recitals under PNOC Board Resolution No. 2566, S’2019, the PNOC management has been directed to conclude and terminate all activities relating to the competitive selection for the joint venture development of the PNOC liquefied natural gas hub project,” the company said in a bid bulletin.

On January 11, Philippines department of energy granted an approval  to Tanglawan Philippines LNG to build country’s first LNG import terminal. Tanglawan Philippines LNG is a joint venture between China’s Cnooc Gas & Power and Phoenix Petroleum.

In addition to Tanglawan, First Gen Corporation in partnership with Tokyo Gas; and US company Excelerate Energy were also in the race.

According to local media reports, Tanglawan Philippine LNG could take in PNOC as a stakeholder in the project.