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First Philippines LNG FSRU in Place

LNG

The Ish LNG tanker has arrived at Batangas in the Philippines, where it will act as a floating storage unit to hold LNG before it is regasified in an onshore unit to supply a local gas-fired power plant according to ICIS.

  • The 137,000cbm tanker had previously travelled to Subic Bay, further northwest, to carry out a ship-to-ship transfer to pick up a cargo from the Golar Glacier.
  • After completing the transfer the Ish moved down to Batangas where it should be positioned in future.
  • As spot LNG prices fall back into the $10-15/MMBtu range it is becoming more affordable for newer projects to start up again.

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