Vires Energy Corp. is interested in developing a liquefied natural gas project costing $750 million in Batangas City, its top executive said Friday. Vires plans to put up a 500 megawatt capacity LNG power plant and LNG receiving terminal in Barangay Simlong, Batangas City. It has received approval to conduct a grid impact study for the proposed LNG power project. Vires signed a technology license agreement with Sevan Marine’s subsidiary HiLoad LNG AS for an LNG receiving and re-gasification terminal in the Philippines. It also signed a separate engineering service contract with HiLoad LNG providing design and engineering work.

Source: The Standard October 06, 2017 12:00 UTC