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Monday, December 17, 2018
CEBU

First Gen Partners with Japan’s Tokyo Gas

FIRST GEN CORP. signed a Joint Development Agreement (JDA) with Tokyo Gas Co., Ltd (Tokyo Gas). The JDA is a preliminary agreement between the parties to jointly pursue development of FGen LNG Corporation’s LNG Terminal Project located at First Gen’s Batangas Clean Energy Complex (FGen LNG Project). The Philippine government has determined that LNG represents a vital national infrastructure that is needed to maintain and enhance the country’s energy security when the Malampaya gas field is eventually depleted. Tokyo Gas will take a 20 percent participating interest in the FGen LNG Project and provide support in development work to achieve a Final Investment Decision (FID). Upon reaching FID under the JDA, the parties will enter into a definitive agreement to proceed with the construction of the FGen LNG Project. (PR)


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