Marubeni still keen on LNG plant in RP

Japanese power firm Marubeni Corp. is still keen on the prospects of putting up a liquefied natural gas (LNG) terminal in the Philippines, Energy Secretary Raphael P.M. Lotilla said.

"They (Marubeni) are willing to look at other business opportunities in the country including an LNG terminal in Bataan," he said.

Lotilla said this business plan was brought up during a courtesy call by Marubeni officials in Malacañang in relation to their investment in Mirant Philippines Corp.

Marubeni and Tokyo Electric Power Corp. (TEPCO) have bought US-based Mirant Corp.’s assets in the Philippines for $3.4 billion.

While Marubeni has existing exposure in various power projects in the country, TEPCO is a new entrant to the local power generation industry.

Marubeni was also one of four Japanese firms that have earlier signified keen interest in investing in the country’s LNG industry. In a roadshow last year in Japan, state-owned Philippine National Oil Co. (PNOC) explored talks with Marubeni, Mitsubishi, Sumitomo, and Toyota Tsoshu for a possible LNG project.

Putting up an LNG terminal, probably in the Bataan area is one of the critical developments for the country’s onshore natural gas transmission pipeline project.

If investors would come in this year, they would have at least three to four years to complete the LNG project.