Energy and commodities firm Vitol Asia Pte Ltd. sealed an LNG sale and purchase agreement with LNGPH, the integrated liquefied natural gas (LNG) power facilities of South Premiere Power Corporation (SPPC) and Excellent Energy Resources Inc. (EERI).
Vitol will supply -starting in 2025- up to 0.8 million metric tons of LNG annually for a period of 10 years.
The LNG will be sourced from Vitol’s global portfolio and delivered to the LNGPH Terminal in Batangas, Philippines.
Vitol claims that this deal will help meet the Philippines’ growing energy needs and contribute to the country’s energy supply stability.
LNGPH, which includes South Premiere Power Corporation (SPPC), Excellent Energy Resources, Inc. (EERI), and Linseed Field Power Corporation (LFC), is part of an LNG partnership between Meralco PowerGen Corporation (MGEN), AboitizPower (AP), and San Miguel Global Power (SMGP).
Jay Ng, chief financial officer, Vitol Asia and executive committee member, Vitol Asia said: “Vitol delivered the first LNG cargo to the Philippines back in April 2023, since then we have delivered a number of LNG cargoes safely and reliably to the Ilijan LNG Terminal.
“As the Philippines’ demand for LNG continues to rise, we are honoured to play a role in securing the country’s energy future through our partnership with SPPC and EERI.”
