Tanglawan Puts Philippines LNG Terminal Project on Hold

Tanglawan Philippine LNG, a joint venture between Phoenix Petroleum and China’s Cnooc, has decided to put on hold its plan to build an import terminal in the Philippines, Phoenix said in a statement December 18.

The joint venture requested the department of energy to put the project on hold in view of the recent acquisition of Chevron’s stake in the Malampaya consortium by Phoenix’s parent company, Udenna Corp.

BusinessWorld, quoting energy secretary Alfonso Cusi, had reported that Phoenix now wanted to “reassess” its gas venture and would submit a “new concept” to the department of energy.

Tanglawan Philippine LNG had planned to start work on the 2.2mn mt/yr terminal this year, with commercial operations targeted to start by 2023. The new venture was also planning to develop a gas-fired power generation facility with up to 2,000 MW installed capacity.