The consortium of the Malampaya deep water-to-gas project, composed of Razon’s Prime Energy Resources Development B.V., Dennis Uy’s UC38 LL, and state-owned PNOC Exploration Corp., said Sunday there were not refusing to sell to the Malampaya banked- READ:
The consortium of the Malampaya deep water-to-gas project, composed of Razon’s Prime Energy Resources Development B.V., Dennis Uy’s UC38 LL, and state-owned PNOC Exploration Corp., said Sunday there were not refusing to sell to the Malampaya banked gas to the 1,200-megawatt Ilijan power plant.
The consortium said there was no live contract for the supply of gas from Malampaya between SMCGP subsidiary South Premiere Power Corp. and Spex, now Prime Energy.“Without a live contract, Malampaya gas cannot be sold legally to SPPC,” they said. It said the move would deprive other power producers with active contracts in the Luzon grid of natural gas.
“The volume of gas from the Malampaya field, as everyone knows and as verified by the Department of Energy, is nearing maximum reserve drawdown, so the supply covered by Service Contract 38 needs to be fairly distributed,” they said. The consortium also said diverting the gas supply to Ilijan would siphon supply from other power producers and could worsen the power supply situation.
The consortium said the banked gas that could be distributed was being distributed as per the contract terms.
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