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PHILIPPINES: Construction plans for proposed build-own-operate (BOO) $100,000,000 natural gas pipeline, PNOC EXPLORATION CORP. [Philippines] - Order #: 116303.

Publication: WWP-Business Opportunities in Asia & the Pacific
Publication Date: 01-NOV-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

The local PNOC EXPLORATION CORP. (PNOC-EC), a subsidiary of the state-owned PHILIPPINE NATIONAL OIL CO. (PNOC), recently announced that it had been mandated by the government to lead the construction of a new gas pipeline. The planned line is intended to enable transporting Malampaya natural gas from Batangas province to Manila.

The Filipino Energy Department, for that matter, granted PNOC-EC a provisional permit to construct, own and operate an onshore downstream natural gas pipeline from Batangas to Manila. According to Rufino Bomasang, PNOC-EC President, construction plans call for installing a 100 km-long pipeline.

The cost to complete the project by some time during the year 2004 has been pegged at $100,000,000. In so doing, PNOC-EC said it is open to allowing FIRST GAS POWER CORP., a unit of FIRST PHILIPPINE HOLDINGS CORP., to take a stake in the project since it intends to incite the private sector to participate in the undertaking.

In any case, PNOC-EC has reportedly received inquiries from at least 4 investors including 3 local and 1 foreign, to take part in the project. However, the ownership issue still needs to...

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