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Philippines Readies for First LNG Import

LNG

The Philippines is about to start importing LNG - adding pressure on international supplies this summer.

  • The Ish LNG tanker, which will act as the storage unit for AG&P's project, arrived at the port of Batangas today on 4 April ready for the first delivery according to ICIS.
  • The first cargo is expected to be delivered by Vitol on the Golar Glacier LNG tanker in mid-April, sourced from the UAE. That vessel remains near Singapore at present.
  • Vitol said that the supplies would fuel a 1,200 MW power plant that would help meet rapidly rising electricity demand in the Philippines.
  • With India's Dhamra LNG terminal, operated by Adani and Total, having also started up in recent weeks, traders will be watching closely to see how much extra demand will come in from newer buyers after falls in global spot gas prices in recent weeks.
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