FIRST GEN EYES FLOATING STORAGE REGASIFICATION UNIT

FGEN LNG Corporation (FGEN LNG), a wholly-owned subsidiary of FirstGen Corporation (FirstGen), announced that it has issued a Binding Invitation to Tender (BITT) for the charter of a Floating Storage Regasification Unit (FSRU) in respect of FGEN LNG’s Interim Offshore LNG Terminal (Project) that will be built at the FirstGen Clean Energy Complex in Batangas City, Philippines.

The BITT was issued to three Preferred Tenderers, namely: BW Gas Limited, GasLog LNG Services Ltd., and Hoegh LNG Asia Pte Ltd, after the satisfactory completion of a non-binding pre-qualification process, and following FGEN LNG’s receipt of a Permit to Construct, Expand, Rehabilitate and Modify (PCERM) from the Department of Energy (DOE). 

The Project will allow FGEN LNG to accelerate its ability to introduce LNG to the Philippines as early as Q3 2022, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates. An FSRU is a Liquefied Natural Gas Carrier (LNGC) that is capable of storing LNG and which has an onboard regasification plant capable of returning LNG into a gaseous state and then supplying it directly into the gas network. 

A typical FSRU has a storage capacity of between 125,000 m3 and 170,000 m3.

According to the International Gas Union World LNG Report - 2020 Edition, approximately six percent of the global fleet of 541 LNGC vessels operate as FSRUs as of the end of 2019.

“BW Gas Limited, GasLog LNG Services Ltd., and Hoegh LNG Asia Pte Ltd, are all very experienced players in the international LNG industry and we are delighted that they have expressed such keen interest in providing a suitable FSRU for the benefit of the Project and the Philippines. We expect that it will be a difficult choice but the BITT process is designed to enable FGEN LNG to select the FSRU supplier and FSRU best suited to meet the needs of the Project in order to deliver a safe, reliable and competitive supply of LNG to our customers”, said Jonathan C. Russell, Executive Vice President and Chief Commercial Officer of First Gen. BW Gas Limited.

BW Gas Limited is a wholly-owned subsidiary of the BW Group, and is involved in the global market of transportation and floating regasification services of LNG, including construction, ownership, and operation of FSRUs and other LNGCs. BW Gas Limited provides integrated solutions to clients across the LNG value chain. BW Group is a leader in maritime energy transportation.