Philippine National Oil, Pertamina to study LNG import strategy<\/p>\n
Dow Jones, Singapore<\/p>\n
State Philippine National Oil Co. or PNOC, and Indonesia's
\nstate oil and gas company Pertamina, will form a working
\ncommittee by end-November to review a possible plan for the
\nPhilippines to import liquefied natural gas, or LNG, from
\nIndonesia.<\/p>\n
According to a memorandum of understanding signed last week by
\nPNOC President Thelmo Y. Cunanan and Pertamina's President and
\nChief Executive Baihaki Hakim, the two agreed that the committee
\nwill conduct a feasibility study regarding possible LNG imports
\nand submit its report by April 2002, a Philippine Department of
\nEnergy official said Wednesday.<\/p>\n
The MOU was signed during a state visit led by Philippine
\nPresident Gloria Macapagal Arroyo to Jakarta.<\/p>\n
The official said it was too early to discuss import volumes
\nand prices, and the details weren't included in the MOU.<\/p>\n
PNOC is interested in importing LNG from Indonesia as part of
\nits plan to expand the Philippine natural gas industry beyond use
\nfor power generation, according to the memorandum. PNOC is
\ninterested in developing gas consumption for downstream
\npetrochemical use.<\/p>\n
PNOC and Pertamina also agreed to hold talks on cooperation in
\nenergy-related projects in the Philippines and Indonesia -
\nincluding oil and gas exploration and production, natural gas
\nprocessing, geothermal energy development, natural gas marketing
\nand investment.<\/p>\n
The MOU, which is set to expire in two years, is part of the
\nPhilippine government's efforts to raise natural gas consumption
\nand reduce its dependence on imported crude oil.<\/p>\n
The Philippine government is likely to decide early next year
\nwhether or not to build an LNG receiving terminal in Bataan,
\nDepartment of Energy Undersecretary Jocot de Dios said late last
\nweek.<\/p>\n
The government has increased efforts to promote its nascent
\nnatural gas industry following the start of production at the
\nMalampaya gas field, located offshore Palawan island.<\/p>\n
Production from the Malampaya gas field began in late
\nSeptember, when the field's operator, Shell Philippines
\nExploration B.V., a unit of Royal Dutch\/Shell Group (RD),
\ndelivered gas to the 1,000-megawatt Santa Rita power plant via an
\nonshore pipeline.<\/p>",
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"sponsor": "Okusi Associates",
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