Malampaya consortium, PNOC to award banked gas this year

By Juzel L. Danganan

MANILA, Oct 6 (PNA) — The Malampaya consortium and the Philippine National Oil Company (PNOC) still targets to award the banked gas this year.

“That’s still in the process of being bidded out. The goal (to award this year)… will depend on how the situation goes. We need to discuss terms and the like,” SPEX B.V. (Shell Philippines Exploration) managing director Sebastian Quiniones told reporters in an interview.

He noted the consortium is already reviewing the bids, but refused to give the number of interested parties.

Quiniones explained the consortium is only “assisting the PNOC in monetizing the banked gas.”

PNOC said the winning bidder has to meet the criteria set by the consortium and that the volume of the gas awarded would depend on its project requirement. It added many companies could bag the deal.

PNOC also stressed the government will earn both through the Malampaya gas sales and purchase agreement (GSPA) and the PNOC GSPA.

The offered gas amounts to 227.995 petajoules at an average daily quantity of 78.1 terajoules per day. Through a joint tender, SPEX will also offer a 150-megawatt (MW) gas supply deal.

Earlier, then Energy undersecretary Zenaida Monsada said the banked gas would be available for delivery from Jan 1, 2016 to February 23, 2024.

The Malampaya consortium is composed of SPEX, Chevron Malampaya LLC, PNOC and PNOC Exploration Corp. (PNA)