Agus power plants to be upgraded
(Eagle News) — The Philippines is in talks with the Japanese government and businessmen over the possible “setting up” of liquefied natural gas stations in the country.
The Department of Finance said in a statement on Tuesday that the Japanese, barring any hitches, would supply the erected LNG stations.
“For the medium-term, we are upgrading or rehabilitating the Agus power plants,” Finance Secretary Carlos Dominguez added.
He said that so far, the power plants are operating “at roughly 60 percent of their capacities.”
“..And we have sought financing—ODA (official development assistance) financing—from China to implement the said power plants in Mindanao,” he said.
A Department of Energy official has said that there was a need to increase the country’s LNG capability, with the Malampaya gas reserve set to be depleted within the next 10 years.