First Gen awards contract to Trafigura Pte Ltd for an LNG cargo following a successful tender

Please be advised that First Gen Corporation (FGEN) concluded its international tender for an LNG cargo by awarding a contract to Trafigura Pte Ltd (Trafigura). Trafigura will supply one (1) LNG cargo of approximately 154,500 m3 (subject to an operational tolerance of +/- 3%) within the required delivery window of November 25 to December 25, 2023, on a Delivered Ex Ship (DES) basis to FGEN’s wholly-owned subsidiary, First Gen Singapore Pte. Ltd (FGEN Singapore). 

The LNG cargo to be provided by Trafigura will be delivered by an LNG carrier which will be unloaded into the storage tanks of the BW Batangas FSRU that is currently berthed at the First Gen Clean Energy Complex (FGCEC) in Batangas City. The LNG will be utilized by FGEN’s existing gas-fired power plants also located in the FGCEC. 

FGEN has a portfolio of four (4) existing gas-fired power plants with a combined capacity of 2,017 MW that have been supplied for many years with gas from the Malampaya field, an indigenous offshore gas field. FGEN LNG Corporation has constructed its Interim Offshore LNG Terminal Project and executed a 5-year Time Charter Party for the charter of the BW Batangas, which will provide LNG storage and regasification services as part of the project. The FGEN LNG Terminal will accelerate the ability to introduce LNG to the Philippines, to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN’s affiliates. FGEN believes the FGEN LNG Terminal will play a critical role in ensuring the energy security of the Luzon Grid and the Philippines.