UNIT First Gen Corp. has chosen three international companies to step on to the next phase of the bidding process for the chartering of a floating storage regasification unit (FSRU), Lopez-led business said in a regulatory filing on Monday.
The charter of the vessel is part of FGEN LNG Corp.’s $300 million interim offshore liquefied natural gas (LNG) terminal project in Batangas City. The chosen bidders are BW Gas Ltd., Dynagas Ltd. and Höegh LNG Asia Pte Ltd. They will step on to the next level of the binding tendering process.
The offshore LNG terminal is scheduled to boost the admission of imported fuel to the nation by the third quarter of 2022. It would fulfill the natural gas requirements of current and potential gas-fired power stations of associates and third parties.
Norway-based BW Gas and Höegh specialize in LNG transport and floating regasification facilities, while Greece-based Dynagas is an LNG shipping firm with a fleet of 15 LNG carriers.
The FSRU is a carrier of LNG and includes an on-board regasification plant that can transform LNG back into steam.
In October, First Gen announced that it had submitted binding tender invitations to three selected FSRU contractors, namely: BW Gas, Höegh and GasLog’s GasLog LNG Services Ltd, New York. Last month, Dynagas was attached to the chart.
Also in October, FGEN LNG selected McConnell Dowell Philippines, Inc., an Australian contractor’s local unit, for the contract for the engineering, procurement and design of the LNG terminal (EPC). The deal was signed last month.
First Gen and Japan’s Tokyo Gas Co., Ltd. have signed a joint partnership agreement to explore the planning, development, research, commissioning, installation, ownership and service of the interim offshore gas project.
The new agreement claimed that Tokyo Gas will have a 20% stake in the plant. When it takes its final investment judgment, it will enter into a final agreement with First Gen.