Uy-CNOOC tandem secures DOE final approval on $2-B LNG projects 1 SHARES Share it! The go-signal of the government was extended through the notice-to-proceed (NTP) project approval scheme of the DOE for the downstream natural gas sector of the country. The green light extended by the DOE to the projects will also incorporate gas-fired power plant developments with up to 2,000 megawatts of installed capacity. The LNG ventures, it was noted, will likely be cemented between Uy’s Phoenix Petroleum and CNOOC Gas and Power Group Co. Ltd. With Pangilinan’s entry into the consortium, bids for capacity off-take relative to the power plant projects may be reinforced because of the former’s stronghold on the country’s biggest power utility Manila Electric Company.
Source: Manila Bulletin January 11, 2019 13:52 UTC