This move marks Tokyo Gas’ first investment in a commercially operational overseas LNG terminal.
FGEN LNG owns and operates the liquefied natural gas (LNG) terminal at the First Gen Clean Energy Complex in Batangas City, which plays a key role in supporting the Philippines' energy security and transition to cleaner fuels.
Strengthening First Gen-Tokyo Gas partnership
"We welcome Tokyo Gas into the First Gen group. This subscription will deepen our partnership and enhance synergy that will boost our efforts in support of the Philippines’ energy security and stability, even as we all pursue decarbonization," Giles Puno, vice chair and CEO of FGEN LNG and president of First Gen, said in a statement.
Tokyo Gas first partnered with First Gen in 2018 for the development and construction of the LNG Terminal, which broke ground in May 2019. In May 2024, Tokyo Gas signed a Subscription Agreement with First Gen LNG Holdings for its minority stake, subject to regulatory approvals.
PH’s first operational LNG terminal
FGEN LNG’s Batangas facility was granted a Permit to Operate and Maintain by the Department of Energy (DOE), making it the first operational LNG terminal in the Philippines.
The facility supplies regasified LNG to First Gen’s gas-fired power plants, which have a combined generating capacity of 2,017 megawatts.
This acquisition reinforces Tokyo Gas’ commitment to expanding its global LNG portfolio while supporting the Philippines' transition to cleaner energy sources, First Gen said. —Ed: Corrie S. Narisma
