September 01, 2014

Trans-Asia deferring LNG plant

The ManilaStandardToday reported that Trans-Asia Oil and Energy Development Corp (TA) is reviewing its plan to build a 415MW combined cycle gas turbine power plant in Batangas province. This is in light of the high prices of liquefied natural gas (LNG) and the power price cap at the Wholesale Electricity Spot Market. With these being unchanged, new LNG facilities carry higher risks because of tighter margins in place.

TA originally planned to start commercial operations of the Batangas LNG plant by September 2017. TA will soon have a 135MW unit of SLTEC (50-50 JV with AC Energy) by end of 2014. Other ongoing projects include a 54MW San Lorenzo wind farm, and the three contracts for hydropower projects of up to 300MW which it recently won in a bidding. - WealthSec