Tanglawan Philippines LNG Inc., the joint venture of China National Offshore Oil Corp. and Phoenix Petroleum Philippines, submitted a technical and financial proposal to develop the country’s first liquefied natural gas hub, a government official said Tuesday.
Tanglawan Philippines is the first company to submit a proposal to the Department of Energy, according to Energy assistant secretary Leonido Pulido III.
“They submitted tech and financial but we wrote a letter last week informing them about certain observation about their application on SEC [Securities and Exchange Commission],” Pulido said.
He said Tanglawan had not yet been issued a certificate of registration by SEC.
“They are supposed to file this week before we start evaluation. The evaluation takes 30 days upon complete submission of documents,” Pulido said.
Phoenix, a company led by businessman Dennis Uy, signed a memorandum of understanding with CNOOC Gas and Power Group Co. Ltd., a subsidiary of CNOOC in June to study, plan and develop a LNG receiving terminal project in the Philippines.
