The Philippine National Oil Company (PNOC) Batangas Liquefied Natural Gas Project (ADB-52107-001)

Countries
  • Philippines
Where the impacts of the investment may be experienced.
Specific Location
Batangas
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 11, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of the Philippines
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Sep 9, 2019

Disclosed by Bank May 16, 2018


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Project Description

According to ADB website, the Philippine National Oil Company (PNOC) intends to develop a liquefied natural gas (LNG) hub (the Project) at San Pascual, Batangas to increase the energy security of the country. The Project will act as a hub and will have the ability to receive imported LNG, to break larger LNG cargoes into smaller cargoes for supply to neighboring islands, re-gasify LNG and generate electricity from the re-gasified LNG. Currently all domestic gas comes from the Malampaya gas field in Palawan. The Malampaya gas field, which is the sole supplier of gas for 2,700 megawatts of gas fired power in Luzon, is set to deplete creating uncertainty in the market. The Project will help secure long-term gas supply for the power plants, enhancing the energy security of the country. It is also expected to stimulate incremental demand for natural gas in Luzon and the surrounding islands.

Investment Description
  • Asian Development Bank (ADB)
Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main