Thailand’s PTT eyes jv for LNG power plant proj

MANILA, Philippines - PTT Philippines, the local unit of Thailand’s biggest petroleum company, is eyeing to put up a liquefied natural gas (LNG) power plant, possibly in Luzon, through a joint venture deal, its top official said.

PTT Philippines president Wisarn Chawalitanon said the ideal capacity of such plant would be between 400 and 500 megawatts and could go as much as 1,200 MW.

“We are looking at that opportunity. I think it will be in Luzon,” he told reporters late Tuesday on the sidelines of the company’s forum on Asean integration.

Chawalitanon said the company would tap as many partners as possible as it would require around $2 billion for an entire integrated LNG project.

“This one should be a consortium. We cannot invest alone. We need to get many partners as we can,” he said.

He said the problem with an LNG terminal is that it cannot stand alone, which means, there should be demand.

Plans, however, are still in the preliminary stages, he noted, adding that the company prefers LNG over coal.

“If the power plant consumes coal, you might have a problem with the environment,” he said.

LNG is natural gas that has been converted into liquid for ease of storage or transport.

Numerous power players have already expressed interest in developing LNG terminals around the country.

Pilipinas Shell Petroleum Corp., for instance, wants to build an LNG regasification terminal beside its refinery in Batangas at an estimated cost of $1 billion.

Lopez-led First Gen Corp., meanwhile, is developing up to 1,300 mw of power generation capacity fueled by natural gas from its facility in Batangas.

 The Department of Energy is currently crafting an LNG masterplan to guide investments in the sector and attract LNG players in the country.