First Gen Corporation Awards Contract to TG Global Trading Co., Ltd. for an LNG Cargo Following a Successful Tender

First Gen Corporation (FGEN) concluded its international tender for a liquefied natural gas (LNG) cargo by awarding a contract to TG Global Trading Co., (Tokyo Gas). Tokyo Gas will supply one (1) LNG cargo of approximately 125,000 m3 with delivery in July 2024 on a Delivered Ex Ship (DES) basis to FGEN’s wholly-owned subsidiary, First Gen Singapore Pte. Ltd (FGEN Singapore.

The LNG cargo to be provided by Tokyo Gas will be delivered by an LNG carrier which will be unloaded into the storage tanks of the BW Batangas floating storage and regasification unit (FSRU) that is currently berthed at the First Gen Clean Energy Complex (FGCEC) in Batangas City. The LNG will be utilized by FGEN’s existing gas-fired power plants which are also located in the FGCEC.

​FGEN has a portfolio of four (4) existing gas-fired power plants with a combined capacity of 2,017 MW that have been supplied for many years with gas from the Malampaya field, an indigenous offshore gas field. FGEN LNG Corporation has constructed its Interim Offshore LNG Terminal and executed a 5-year Time Charter Party for the charter of the BW Batangas, which will provide LNG storage and regasification services. The FGEN LNG Terminal will accelerate the ability to introduce LNG to the Philippines, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN’s affiliates. FGEN believes the FGEN LNG Terminal will play a critical role in ensuring the energy security of the Luzon Grid and the Philippines.