The Department of Energy (DOE) gave its green light to Vires Energy Corp. (VEC) to proceed with the development of its planned Integrated Natural Gas-Fired Power Plant and liquefied natural gas (LNG) Storage and Regasification Terminal Project in Batangas.
A Notice to Proceed (NTP) was issued by the agency to VEC last April 22. VEC proposed a Floating Storage and Regasification Unit (FSRU) with approximately 162,400 m3 of storage capacity, to be located 1.6-kilometers from the south-eastern coastline of Batangas Bay in Barangay Simlong, Batangas City. The FSRU is a converted LNG Tanker, “BW Paris,” built in 2009 with a regasification capacity of up to 3 MTPA.
The proposed LNG terminal and regasification project will consist of a Turret Mooring System for the FSRU, a 1.6km Subsea Gas Pipeline, and a 500-MW Floating Power Plant (FPP).
The power plant will serve as an anchor market, which is, thus far, the largest floating power plant project recorded in the country. The project will also utilize a land area classified as a “Heavy Industrial Zone” for backup fuel supply of diesel fuel during gas outage events.
The target commercial operation date of VEC’s integrated LNG terminal project is in January 2023.