Author Topic: Brunei Eyes Energy Investment in Mindanao  (Read 508 times)

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Brunei Eyes Energy Investment in Mindanao
« on: September 19, 2012, 07:00:59 AM »
Brunei Darussalam, one of the world's largest producers of liquefied natural gas is studying whether it can put up a 300 megawatt (MW) liquefied natural gas-fired power plant in Mindanao, a Cabinet official on Tuesday said.

 Energy Secretary Jose Rene Almendras said they offered the PHIVIDEC Industrial Estate in Misamis Oriental as the ideal site for an LNG power plant to Brunei, which can be its first LNG power generation facility in the Asean region.

 "I’m happy to report that we have invited Brunei to have a serious look at LNG Mindanao to which they have expressed interest. They said they will come over and study it. My main problem is that we have a natgas plant for Luzon, but we have people interested already in starting certain initiatives for Luzon natural gas. I still don’t have anything serious on Visayas and Mindanao," Almendras said.

The Energy secretary said he was able to convince the Brunei Energy Minister during the recently concluded Asia-Pacific Economic Cooperation to visit the Philippines and look at the possibility of investing in an LNG power plant.

 "(They will) see if there is investments because they have also made a decision that they just don’t want to be a supplier of nat gas, they also want to integrate downstream initiatives to that," Almendras said.

 "Again, this is all along in focus of trying to find solutions to the Mindanao power shortage which is to encourage more people to put up generating capacities in Mindanao," he said.

 Almendras said he is "not sure which of Brunei's government owned corporations" will put up the LNG facility. Brunei National Petroleum Company Sendirian Berhad also known as PetroleumBRUNEI is Brunei’s National Oil Company incorporated in 2002.

 PetroleumBRUNEI is wholly-owned by the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam.

 The Brunei government also owns a 50 percent stake in Brunei LNG Sdn Bhd while the remaining 25 percent is owned by Shell Overseas Holdings Limited, a company in the Royal Dutch Shell and Mitsubishi Corp. Brunei LNG operates an LNG plant in Lumut, Brunei.

 "They are looking at investing in natgas facilities even for Mindanao...I proposed to them power generation projects for Mindanao. I hope that we can interest them into a natgas power generation for Mindanao," Almendras said.

 Almendras said Brunei can utilize the Floating, Storage and Regasification Unit to supply LNG to its natural gas power plant in Mindanao.

 "What is more important is if they don’t decide to build the power plant, if they will invest into an FSRU and storage area capacity, we have identified the area na kasi before for the most ideal location for this, then maybe somebody else who is interested in building power plants using natgas will come into that," he said.

 The World Bank has identified the PHIVIDEC Industrial Estate in Misamis Oriental as the ideal site for a floating terminal for LNG.

 The 3,000-hectare Phividec is located in the Municipality of Tagoloan and Villanueva, Misamis Oriental and one of the largest industrial estates in the Philippines.

 Brunei had earlier committed to prioritize the delivery of natural gas to the Philippines in 2015.Bulk of Brunei's LNG production is sold to Japan under a long-term agreement. Brunei also supplies a portion of its LNG production to Korea. - Phil News Agency, source

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