Vitol to Supply LNG to Philippines Under 10-Year Deal
(P&GJ) — Vitol Asia Pte Ltd. has signed a 10-year liquefied natural gas (LNG) supply agreement with LNGPH, a consortium of South Premiere Power Corporation (SPPC) and Excellent Energy Resources, Inc. (EERI).
Starting in 2025, Vitol will supply up to 0.8 million metric tons of LNG annually, sourced from its global portfolio, to the LNGPH Terminal in Batangas, Philippines. The deal aims to support the country’s growing energy demand and ensure a stable energy supply.
“The Philippines is a growing LNG market, and we are excited to bring LNG supply from our global portfolio to meet this rising demand,” said Pablo Galante Escobar, head of LNG at Vitol. “This agreement contributes to the transition to gas from more carbon-intensive energy sources.”
Vitol delivered its first LNG cargo to the Philippines in April 2023 and has since supplied multiple shipments to the Ilijan LNG Terminal. “As the Philippines’ demand for LNG continues to rise, we are honored to play a role in securing the country’s energy future,” said Jay Ng, CFO of Vitol Asia.
LNGPH, backed by Meralco PowerGen Corporation, AboitizPower, and San Miguel Global Power, supports 18% of Luzon’s power needs. SPPC operates a 1,200 MW gas-fired plant, while EERI has a capacity of 1,275 MW.
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