DUBAI, April 26, 2018 /CNW/ - Lloyds Energy has moved one step closer in its offer to build and develop an LNG Energy Hub in the Philippines, having recently received a letter from the Philippine National Oil Company that its unsolicited proposal for the PNOC Batangas Bay Energy Hub Project has been determined to be complete in accordance with the documentary requirements stated in the Build Operate and Transfer (BOT) law and its Revised Implementing Rules and Regulations. Following the completeness check, PNOC will now evaluate the proposal in accordance with the same law.
Lloyds Energy was the first company to submit an unsolicited proposal to the PNOC for the development and construction of an integrated LNG hub with storage, liquefaction, regasification and distribution facility, as well as a power plant capacity of 200 to 800 megawatts (MW). Several companies also previously submitted unsolicited proposals to the PNOC but following the "first in time" approach under the BOT law it is the proposal of Lloyds Energy that is currently being evaluated by the technical working group (TWG) of the PNOC.
The Batangas Bay LNG Hub Project of the PNOC is envisioned to turn the Philippines into a hub for LNG amid the expected depletion of natural gas from the Malampaya gas field in Palawan and the expiration in 2024 of Service Contract 38 issued to the consortium of Shell, Chevron and PNOC-EC for the operation of Malampaya.
Lloyds Energy is a Dubai based company established in 2013 with the strategic aim of delivering LNG to the global market. Lloyds Energy has grown rapidly by establishing strong international alliances with LNG companies, off takers and major engineering groups specializing in LNG. It has a team of experts with extensive experience and credentials in the gas and oil business. Lloyds Energy continues to expand its activities in the LNG supply chain sector through broad and innovative service offerings.
SOURCE Lloyds Energy
For further information: Brett Wight, Executive Director, [email protected], Tel: +971-058-583-7475