The Philippines' energy ministry yesterday defended the sale of the Malampaya gas project - formerly controlled by a Shell (AMS:RDSA) and Chevron (NYSE:CVX) joint venture - to a company run by an ally of President Rodrigo Duterte, dismissing a graft complaint.
China’s announcement at the United Nations General Assembly that it will no longer build any new coal-fired power plants abroad accelerates the energy transition in Asia’s emerging markets but also raises challenges, according to a new analysis by the IHS Markit Global Power and Renewables service.
The nascent offshore wind market in the Philippines, which is Southeast Asia’s second most populous country, offers exciting opportunities for foreign investors, particularly experienced UK companies.
A recent white paper sponsored by the US Agency for International Development (USAID) promotes the benefits of liquefied natural gas (LNG) in the Philippines. But it makes overly optimistic claims about the financial, economic and environmental benefits of LNG, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
Natural declines and underinvestment in new exploration has left Philippine oil and gas production in freefall posing significant risks to future energy security. The risk is particularly acute given how reliant the Southeast Asian nation is on oil and gas for power generation, industrial processes and transportation, warn analysts at Fitch Solutions. But interest from investors has been rekindled.
McDermott International’s CB&I Storage Solutions will provide the engineering, procurement and construction (EPC) work for a second storage tank at Atlantic Gulf and Pacific Company’s (AG&P’s) liquefied natural gas (LNG) import and regasification terminal in the Philippines.
Southeast Asia is emerging as a hotspot for global solar investment with over $10 billion invested just last year. In 2020, the region represented 12% of the global solar market and installed capacity has more than doubled every year since 2018, Rishab Shrestha, analyst at Wood Mackenzie told the APAC power and renewables summit today.
Marine operator Svitzer will provide towage and other vessel support services for First Gen’s Interim Offshore Liquefied Natural Gas (LNG) Terminal in the Philippines for a ten-year term.
The race to develop liquified natural gas (LNG) import facilities in the Philippines has gone from a marathon to a sprint but potential LNG investors must proceed at their own risk, due to high regulatory and financial uncertainty, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).
Philippine tycoon Dennis Uy's Udenna conglomerate struck a deal worth up to $460 million to buy a gas exploration and development company from Shell last week. The deal, which attracted a premium valuation and boosts Udenna’s share in the Malampaya gas field to 90%, is positive for both the Philippines and Shell.
Shell has stuck a deal to sell its 45% operating interest in the Malampaya gas field offshore Philippines for up to $460 million.
Japanese trading house Mitsui has chosen the Philippines for the company’s first mega solar project in Southeast Asia.
The Philippines has approved yet another proposed liquefied natural gas (LNG) to power scheme as the country faces a looming gas supply crunch. The latest award, to Vires Energy, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
Philippine President Rodrigo Duterte said challenging China in the South China Sea will only lead to violence, and that he will only do so if Beijing drills for oil in the disputed waters.
McDermott International’s CB&I Storage Solutions will provide the engineering, procurement and construction work for storage tanks at Atlantic Gulf and Pacific Company’s (AG&P’s) liquefied natural gas (LNG) import and regasification terminal in the Philippines.
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
Anglo-Dutch supermajor Shell has received a notice to proceed (NTP) for a proposed liquefied natural gas (LNG) import scheme in the Philippines.
First Gen will award a deal for the charter of a floating storage regasification unit (FSRU) to support its Interim Offshore LNG Terminal project in the Philippines by the end of March.
The Philippines needs to pursue nuclear power to improve its long-term energy security and slash carbon emissions from its highly polluting coal-fired power fleet.
The Philippines this week approved yet another proposed liquefied natural gas (LNG) import scheme as the country faces a looming gas supply crunch. However, the latest award, to AG&P, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
Technology group Wartsila will supply a flexible barge-mounted 54 MW / 32 MWh energy storage system to Therma Marine Inc (TMI) in the Philippines to help meet the country’s surging demand for electricity. It is billed as the first project of its kind in Southeast Asia.
Philippine business tycoons are eager to buy Shell’s stake in the deep-water Malampaya project. However, any potential suitors for the 45% interest, valued at between $250 million and $300 million by analysts at Rystad Energy, will need to bring strong technical skills to eek more gas out of the aging field.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
Three60 Energy has clinched a multimillion pound deal to provide of duty holder services on the Intrepid FPSO offshore Philippines.