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Home>>Daily News>>Indonesia>>Investment >>Indonesia’s Pertamina to invest $1B in LNG facility in PHL
NEWS UPDATES Asean Affairs   February 1, 2019  






Indonesia’s Pertamina to invest $1B in LNG facility in PHL
 
Indonesia’s PT Pertamina intends to invest around $1 billion in a liquefied natural gas (LNG) regasicification facility in the Philippines, the Department of Trade and Industry (DTI) said.

“Their intention is immediate,” Trade Secretary Ramon Lopez told GMA News Online on Thursday.

Pertamina is planning to invest about $1 billion for the LNG regasification unit, the Trade chief said.

The state-owned oil firm will build the LNG facility “as soon as they find a good joint venture partner and as soon as clearances and permits are provided.”

Jakarta-based Pertamina has six refineries in Indonesia, with a combined capacity of one million barrels per day.

The Department of Energy is pushing for an LNG terminal facility to prevent electricity rates from spiking once the reserves of Malampaya natural gas facility is depleted some 10 years from now.

Malampaya supplies the LNG requirements of three power plants with a combined generating capacity of 2,700 megawatts—enough to meet up to 30 percent  of Luzon’s electricity needs, or about 20 percent of the country’s total electricity requirements.

The Energy department earlier gave the green light for Dennis Uy’s Phoenix Petroleum and China National Offshore Oil Corp. to proceed with their liquefied natural gas (LNG) project in Batangas.


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ASEAN NEWS UPDATES      Updated: 04 January 2011

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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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