The planned Philippines’ USD2 billion Tanglawan LNG hub venture has been delayed by backers CNOOC Gas and Power of China and Phoenix Petroleum Philippines Inc. as Phoenix’s parent company Udenna Corp. took 45% of Malampaya natural gas consortium.
Phoenix is now looking to reconsider its gas venture and will submit a new arrangement to the Philippines’ Department of Energy.
The Tanglawan LNG hub was supposed to have a capacity of 2.2 million tpa. It was targeted for startup by 2023. Phoenix had also planned to build a 2,000 MW power plant to support the facility.
