Philippines' PXP eyes Malampaya facilities for South China Sea gas project [Reuters]
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Source: Reuters
Philippines' PXP eyes Malampaya facilities for South China Sea gas project - Reuters 3 Min Read MANILA (Reuters) - PXP Energy Corp said on Tuesday it has submitted an unsolicited proposal to the Philippines’ Department of Energy to develop and utilize the Malampaya natural gas facilities in the South China Sea for a planned integrated gas hub venture. The Malampaya gas-to-power project, developed and operated by Shell Philippines Exploration BV on behalf of joint venture partners Chevron Malampaya LLC and state-owned PNOC Exploration Corp, began commercial operations in 2001. Malampaya, which fuels power plants with a combined capacity of more than 3,000 megawatts, is expected to be depleted within the next decade, with the government-issued Service Contract No. 38 covering the project expiring in 2024. PXP said it is looking to take control of the facilities after the contract expiry, “to support continued development of the Malampaya resources as well as the economic development of
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