Excelerate Energy Notice to Proceed For Floating LNG Terminal In Philippines  

Excelerate Energy announced today the company received a Notice to Proceed (NTP) last week from the Philippine Department of Energy (DOE) to develop a floating liquefied natural gas import terminal in the Bay of Batangas. The project, Luzon LNG, will supply natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon including the area of Metro Manila.

"We are pleased to have received this significant approval from the Government of the Philippines in supporting the country's long-term energy objectives – this is an important milestone to move the project forward," said Excelerate Energy Chief Commercial Officer Daniel Bustos. "We look forward to working with the government and private sector for the successful completion of the project that will enable Excelerate to invest in critical infrastructure allowing the country to continue on its current path of tremendous economic growth."

Luzon LNG will include a fully-integrated turnkey floating LNG terminal, arranging the necessary supply of LNG and distribution of natural gas to end-users across Luzon. Excelerate will develop, design, permit, construct, finance, and operate the terminal. Following the NTP, Excelerate will seek the necessary permits and raise financing for the project.