First Gen Corporation, Grants a Contract for an LNG Cargo to CNOOC Gas and Power Trading & Marketing Limited

First Gen Corporation (FGEN) concluded its international tender for an LNG cargo by awarding a contract to CNOOC Gas and Power Trading & Marketing Limited (CNOOC). CNOOC will supply one (1) LNG cargo of approximately 130,000 m3 with delivery in May 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 CNOOC will be delivered by an LNG carrier which will be unloaded into the storage tanks of the BW Batangas 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 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 Project and executed a 5- year Time Charter Party for the charter of the BW Batangas, which will provide LNG storage and regasification services as part of the project. 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