3 Chinese firms keen on CNG biz
The Philippine Star 05/08/2006
Three more Chinese firms have expressed interest to invest in the country’s downstream natural gas industry particularly in the compressed natural gas (CNG) business, a ranking energy official said.
Department of Energy (DOE) director Mario Marasigan said one of these Chinese companies has signified interest to invest more than $50 million in the country’s pioneering CNG industry.
Marasigan, however, refused to give the identities of the China-based firms as they have yet to firm up their respective investments in the country.
"We need to check the veracity of their intention to invest in the CNG industry. They intend to put up CNG mother and daughter stations but we have yet to check on their claims," he said.
According to Marasigan, the DOE is also still in the process of firming up the proposals of other firms that have earlier signified interest to enter the country’s CNG industry.
Marasigan said Indian firm Tata Industries has stopped discussions with the DOE but started negotiations with some bus operators.
US-based Callandra Energy Research Co., he said, is currently finalizing its business plan and feasibility studies. "We expect them to present their initial legwork on the potential locations of their daughter stations," he said.
The Philippine National Oil Co. (PNOC), Marasigan said, has also started talks with Samsung Industries which initially proposed to supply equipment for the construction of a CNG plant.
PNOC has decided to take the lead in the development of the CNG business in the country after the Shell group indicated possible delay in the construction of their planned mother-daughter CNG stations in Batangas.
"PNOC wants to have an option in case Shell’s timeline to put up their CNG mother and daughter stations will be push back further. This option will also include entertaining any investors who could possibly build the CNG at the soonest possible time," he said.
Early this month, Shell had asked the government more time to put up its CNG mother-daughter stations, the country’s top energy official said.
"They (Shell) asked for enough time to make their full assessment and to get back to us," Energy Secretary Raphael P.M. Lotilla said.
Being a pioneer in the upstream natural gas sector, only Pilipinas Shell has the right to pilot test the setting up of mother and daughter CNG refilling stations.
Three more Chinese firms have expressed interest to invest in the country’s downstream natural gas industry particularly in the compressed natural gas (CNG) business, a ranking energy official said.
Department of Energy (DOE) director Mario Marasigan said one of these Chinese companies has signified interest to invest more than $50 million in the country’s pioneering CNG industry.
Marasigan, however, refused to give the identities of the China-based firms as they have yet to firm up their respective investments in the country.
"We need to check the veracity of their intention to invest in the CNG industry. They intend to put up CNG mother and daughter stations but we have yet to check on their claims," he said.
According to Marasigan, the DOE is also still in the process of firming up the proposals of other firms that have earlier signified interest to enter the country’s CNG industry.
Marasigan said Indian firm Tata Industries has stopped discussions with the DOE but started negotiations with some bus operators.
US-based Callandra Energy Research Co., he said, is currently finalizing its business plan and feasibility studies. "We expect them to present their initial legwork on the potential locations of their daughter stations," he said.
The Philippine National Oil Co. (PNOC), Marasigan said, has also started talks with Samsung Industries which initially proposed to supply equipment for the construction of a CNG plant.
PNOC has decided to take the lead in the development of the CNG business in the country after the Shell group indicated possible delay in the construction of their planned mother-daughter CNG stations in Batangas.
"PNOC wants to have an option in case Shell’s timeline to put up their CNG mother and daughter stations will be push back further. This option will also include entertaining any investors who could possibly build the CNG at the soonest possible time," he said.
Early this month, Shell had asked the government more time to put up its CNG mother-daughter stations, the country’s top energy official said.
"They (Shell) asked for enough time to make their full assessment and to get back to us," Energy Secretary Raphael P.M. Lotilla said.
Being a pioneer in the upstream natural gas sector, only Pilipinas Shell has the right to pilot test the setting up of mother and daughter CNG refilling stations.
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