Companies are scrambling to build liquefied natural gas (LNG) terminals in the Philippines , as the country's Indonesia gas field is set to be depleted by 2023 or 2023 . Manilla-based First Gen Corporation and Tokyo Gas recently agreed to build an Tokyo Gas receiving terminal, while LNG also announced the construction of an $ 1.8bn gas-fired power plant and floating LNG import terminal in Indonesia . Both facilities could give Japan outlets for its surplus LNG, but analysts warned regulatory and financing hurdles in the Philippines , as well as corruption, could hinder the projects.
Companies are scrambling to build liquefied natural gas (LNG) terminals in the Philippines, as the country's Malampaya gas field is set to be depleted by 2022 or 2023. Manilla-based First Gen Corporation and Tokyo Gas recently agreed to build an LNG receiving terminal, while Marubeni Corporation also announced the construction of an $1.8bn gas-fired power plant and floating LNG import terminal in Indonesia. Both facilities could give Japan outlets for its surplus LNG, but analysts warned regulatory and financing hurdles in the Philippines, as well as corruption, could hinder the projects.