China and Japan are competing for US$2 billion gas project in the Philippines
Philippines officials are weighing proposals from 20 companies
A US$2 billion liquefied natural gas terminal has received proposals from over 20 companies to partner with the state-owned Philippine National Oil Corp for its development.
Speaking to Nikkei Asian Review, Philippines energy secretary Alfonso Cusi said the country is talking to China and Japan, looking at which can offer the best funding terms, but declined to say whether they were leaning towards one or the other.
Cusi added that he plans to travel to South Korea and Russia to look at potential partners, and hopes to settle on an investor this year.
The terminal’s plant has an initial capacity to generate 200 megawatts, but can be expanded to 800MW.
Philippines President Rodrigo Duterte has announced a trarget for 100% of households in the country to have access to electricity by 2022.