Excelerate Energy has been the greenlight to develop a floating LNG import terminal in the Philippines.
The US regasification specialist said it received notice to proceed from the Philippine Department of Energy with a floating storage and regasification unit in the Bay of Batangas under the project name Luzon LNG.
Excelerate will develop, design, permit, construct, finance, and operate the terminal, which will be located offshore from the city of Batangas to minimise the impact to the existing shipping traffic in the area and coastline.
