Energy World defers LNG hub completion

By Alena Mae S. Flores – December 02, 2018 at 07:45 pm

Energy World Corp. has pushed back the operation of its liquefied natural gas hub at Barangay Ibabang Polo, Pagbilao Grande Island, Quezon in 2019 to 2020, subject to the completion of the tie-in connection to National Grid Corp. of the Philippines’ Tayabas-Naga transmission line.

“While we anticipate the facility will be completed by March 2020, it must be noted that this process is outside of our control,” EWC said in a company presentation submitted to the Australian Securities Exchange.

EWC said transmission operator NGCP granted access to the adjacent 230-kilovolt line, which would provide up to 200 MW of power, on a temporary basis.

It said NGCP committed connection for the full 600-MW plant capacity when the Pagbilao substation is completed.

EWC noted financing arrangements were being done with Land Bank of the Philippines and the Development Bank of the Philippines, while the project received “strong political support.”