Vitol and LNGPH sign long-term gas supply deal
LNGPH, an integrated LNG power facilities of South Premiere Power Corp. (SPPC) and Excellent Energy Resources, Inc. (EERI), have signed an LNG sale and purchase agreement (SPA) with Vitol Asia Pte Ltd, a global energy and commodities company.
Starting in 2025, Vitol will supply up to 0.8 million tpy of LNG 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. This agreement will help meet the Philippines’ growing energy needs and contribute to the reliability and stability of the country’s energy supply.
Pablo Galante Escobar, Head of LNG and Executive Committee member, commented: “We are pleased to build on the existing relationship between Vitol and SPPC/EERI and to conclude this long-term LNG supply deal together. The Philippines is a growing LNG market and we are excited to bring LNG supply from our global LNG portfolio to meet this rising LNG demand in the country, thereby contributing to the transition to gas from other more carbon intense energy sources. Vitol is committed to offering reliable and flexible LNG solutions to customers worldwide.”
Jay Ng, Chief Financial Officer, Vitol Asia and Executive Committee Member, Vitol Asia, added: “We are delighted to strengthen our relationships with SPPC and EERI through this landmark agreement. 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.”
Yari A. Miralao, President and CEO of both EERI and SPPC, commented: “It is a significant step towards meeting the country’s growing energy demands while ensuring a sustainable and stable energy future. We look forward to building on this relationship as we continue to support the Philippines’ energy transition and infrastructure development.”
LNGPH, which includes SPPC, EERI, and Linseed Field Power Corp. (LFC), is part of a landmark LNG partnership between Meralco PowerGen Corp. (MGEN), AboitizPower (AP), and San Miguel Global Power (SMGP). This strategic collaboration is set to support at least 18% of Luzon’s power needs, strengthening the country’s energy security while advancing the transition to cleaner and more sustainable energy sources. Currently, SPPC has a net sellable capacity of 1200 MW from its combined-cycle gas-fired facility, while EERI has a net sellable capacity of 1275 MW.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05032025/vitol-and-lngph-sign-long-term-gas-supply-deal/
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