Subic, Philippines – Several European ambassadors and diplomats visited the ongoing construction of the second offshore gas platform which is part of the Malampaya Deep Water Gas-to-Power Phase 3 Project at the Keppel Subic Shipyard in Subic, Zambales on Thursday, February 20, 2014.
The Php45 Billion worth of European investment will ensure that the current level of gas production for Luzon region is maintained.
The scale of the project required the use of the 1,500T gantry crane, the largest in Southeast Asia that has been built at the Keppel Subic Shipyard specifically for Malampaya Phase 3.
The Malampaya natural gas field is estimated to contain 2.7 trillion cubic feet of natural gas and 85 million barrels of condensate (gas oil, naphtha, and other light hydrocarbons).
Department of Energy (DOE) data reveal that the country’s largest natural gas producer will start losing output from 2015 and will run out by 2024 “if no further activities are undertaken until 2024.”
“We are happy to welcome the European Union delegates to the Malampaya Phase 3 Fabrication Yard and showcase a technological innovation where a gas platform is being built for the first time in the country.", Shell Philippines Exploration, B.V. (SPEX) Managing Director Sebastian Quiniones said.
SPEX is responsible for developing and operating the Malampaya Gas Project using expertise drawn from an extensive global experience in deepwater technology and oil and gas exploration and production.
The scale of this European investment is significant by any measure. Several European companies are involved in this endeavour that promises to secure an important source of revenue for the Philippine people while creating new jobs for well-trained Filipinos in their own country.", EU Ambassador Guy Ledoux said.
The offshore transport and installation of the second gas platform beside the existing one will be executed with the participation of European companies Boskalis and Mammoet.
EU is already the largest investor in the Philippines by stock (PHP 440Billion to date). These investments have created hundreds of thousands of jobs in this country while adding value to the economy through technology and capital transfer.
"We are convinced that many opportunities for more European job-creating investments exist. European businesses are closely following developments here, in particular with respect to reforms in customs, competition and public procurement, as they make their investment decisions." Ledoux added.
The Malampaya Deep Water Gas-to-Power Project is one of the largest and most significant industrial endeavours in Philippine history, heralding the birth of the natural gas industry in the country.
From 2002 to October 2013, the government collected P184 billion in royalties from Malampaya and about 2,000 jobs were generated by the project.
The natural gas from Malampaya fuels three power stations with a combined capacity of 2,700 megawatts to meet 40-45% of Luzon’s power generation requirements, reduce oil imports, provide a stable supply of energy and a cleaner source of power.
The Luzon grid is dependent on Malampaya as it fuels three power plants—Sta. Rita (1,000 megawatts), San Lorenzo (500 MW) and Ilijan (1,200 MW).
The Malampaya Deep Water Gas-to-Power Project was developed and is operated by Shell Philippines Exploration, B.V. (SPEX) on behalf of Joint Venture partners Chevron Malampaya LLC and the Philippine National Oil Company-Exploration Corporation under Service Contract No. 38 (SC 38).
The Php45 Billion worth of European investment will ensure that the current level of gas production for Luzon region is maintained.
The scale of the project required the use of the 1,500T gantry crane, the largest in Southeast Asia that has been built at the Keppel Subic Shipyard specifically for Malampaya Phase 3.
The Malampaya natural gas field is estimated to contain 2.7 trillion cubic feet of natural gas and 85 million barrels of condensate (gas oil, naphtha, and other light hydrocarbons).
Department of Energy (DOE) data reveal that the country’s largest natural gas producer will start losing output from 2015 and will run out by 2024 “if no further activities are undertaken until 2024.”
“We are happy to welcome the European Union delegates to the Malampaya Phase 3 Fabrication Yard and showcase a technological innovation where a gas platform is being built for the first time in the country.", Shell Philippines Exploration, B.V. (SPEX) Managing Director Sebastian Quiniones said.
SPEX is responsible for developing and operating the Malampaya Gas Project using expertise drawn from an extensive global experience in deepwater technology and oil and gas exploration and production.
The scale of this European investment is significant by any measure. Several European companies are involved in this endeavour that promises to secure an important source of revenue for the Philippine people while creating new jobs for well-trained Filipinos in their own country.", EU Ambassador Guy Ledoux said.
The offshore transport and installation of the second gas platform beside the existing one will be executed with the participation of European companies Boskalis and Mammoet.
EU is already the largest investor in the Philippines by stock (PHP 440Billion to date). These investments have created hundreds of thousands of jobs in this country while adding value to the economy through technology and capital transfer.
"We are convinced that many opportunities for more European job-creating investments exist. European businesses are closely following developments here, in particular with respect to reforms in customs, competition and public procurement, as they make their investment decisions." Ledoux added.
The Malampaya Deep Water Gas-to-Power Project is one of the largest and most significant industrial endeavours in Philippine history, heralding the birth of the natural gas industry in the country.
From 2002 to October 2013, the government collected P184 billion in royalties from Malampaya and about 2,000 jobs were generated by the project.
The natural gas from Malampaya fuels three power stations with a combined capacity of 2,700 megawatts to meet 40-45% of Luzon’s power generation requirements, reduce oil imports, provide a stable supply of energy and a cleaner source of power.
The Luzon grid is dependent on Malampaya as it fuels three power plants—Sta. Rita (1,000 megawatts), San Lorenzo (500 MW) and Ilijan (1,200 MW).
The Malampaya Deep Water Gas-to-Power Project was developed and is operated by Shell Philippines Exploration, B.V. (SPEX) on behalf of Joint Venture partners Chevron Malampaya LLC and the Philippine National Oil Company-Exploration Corporation under Service Contract No. 38 (SC 38).
