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    Philippines Oil & Gas Infrastructure Overview

    September 20, 2022 - Fitch Solutions Sector Intelligence


      • Oil & Gas
      • Philippines
      • Market Overview
      • Fitch Solutions

      Philippines Oil & Gas Infrastructure Overview

      • 20 Sep 2022
      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.
      Oil Refineries
      Refineries In The Philippines
      Location Project Name Capacity, b/d

      Capacity, tpa

      Status Construction - Completion Main Owner
      Bataan Limay 180,000 8,961,480 Active 1961 Petron
      Batangas Tabangao 110,000 5,476,460 Closed 1962 Shell
      Bataan Limay Expansion 120,000 5,974,320 Postponed - Petron
      Source: Company data, Fitch Solutions
      Oil Storage

      As of June 2017, the Philippines held 24.8mn bbl of crude oil and refined products in inventory (an increase of 25% y-o-y), equivalent to about 56 days of supplies (37 days of crude oil and products in stock and 19 days in transit), according to statistics published by the Department of Energy.

      The government also requires refiners to maintain stocks equivalent to 30 days of consumption, bulk marketers 15 days and liquefied petroleum gas players seven days under the broader Minimum Inventory Requirement programme. In September 2021 the government outlined plans to establish a Strategic Petroleum Reserve to lessen the country's vulnerability to global price fluctuations.

      Service Stations

      There are over 10,800 services stations across the Philippines. Petron has the largest retail network with about 2,400 service stations across the country (as well as 30 distribution terminals). Shell's Philippines subsidiary has the second largest network with more than 1,100 service stations. Chevron's subsidiary Caltex operates the third largest network of around 850 service stations. TotalEnergies Philippines runs a network of about 490 stations, while local private player Phoenix has about 325 stations in its network. Other players include Unioil, Seaoil, Jetti and PTT.

      LNG Terminals
      LNG Projects In The Philippines
      Location Project Capacity, bcm Capacity, mtpa Power Generation Capacity, MW Cost, USDbn Status Companies Start Date
      Batangas Philippines LNG 4.1 3.0 1,200 0.3 DOE Approved Atlantic Gulf & Pacific Company of Manila Inc. (AG&P) H1 2023
      Batangas Shell FSRU 4.1 3.0 - 0.05 DOE Approved Shell 2022-2023
      Batangas Vires Energy FSRU - - 506 - DOE Approved Vires Energy 2022-2023
      Batangas Filipinas LNG I 6.0 4.4 850 0.1 DOE Approved Excelerate Energy Q1 2023
      Batangas FGEN LNG Phase I 7.2 5.3 1,200 1.3 DOE Approved First Gen Corporation, Tokyo Gas H2 2022-2024
      Batangas Filipinas LNG II - - 850 - DOE Approved Excelerate Energy Q2 2024
      Quezon Pagbilao LNG 4.1 3.0 650 0.1 DOE Approved Energy World Corporation 2024
      Batangas Batangas Clean Energy LNG 4.1 3.0 1,100 0.7 DOE Approved Batangas Clean Energy Inc. Q4 2025
      - - - - - - Proposed New Fortress Energy LLC -
      Bataan, Batangas - - - - - Proposed PNOC, Lloyd Energy -
      Batangas FGEN LNG Phase II 2.7 2 - - Proposed First Gen Corporation, Tokyo Gas -
      Mindanao Brunei-PNOC FSRU - - 300 - Proposed Petroleum National Brunei, PNOC -
      Cebu - - - 600 1.02 Proposed SMC Global Power Holdings Corp. 2027-2028
      Batangas Tanglawan LNG 3 2.2 1,100 2 Suspended Tanglawan Philippines LNG (CNOOC, Phoenix Petroleum) 2024-2025
      Source: Company data, Fitch Solutions
      Gas Pipelines

      Demand for gas in the Philippines has been growing steadily but has been constrained by limited downstream infrastructure and geographical obstacles. In June 2008, the Philippine National Oil Company launched the Natural Gas Infrastructure Development Plan, which calls for the expansion of the national gas grid, the construction of receiving LNG terminals and inter-island gas pipelines.

      Two projects have already been initiated in the Central Luzon region, namely the 80-100km Batangas-Manila (BatMan 1) and the 140km Bataan-Manila network (BatMan 2). The BatMan 1 and 2 projects are also envisioned to be linked through an interconnector running from Bataan to Cavite (BatCave).

      BatMan-1 Pipeline (Planned)

      Several delays and bureaucratic hold-ups continue to stunt construction of the BatMan-1 gas pipeline, which will distribute imported LNG supplies to consumers in Batangas, Laguna, Cavite and Metro Manila.

      As of June 2016, construction of the 121km pipeline was pending approval from the National Economic and Development Authority - Investment Coordination Committee due to certain revisions to the project's terms of reference.

      Other Planned Pipelines

      The following proposed pipelines have been earmarked by the DOE as 'critical infrastructure projects' and are mostly applicable to the Luzon area. No further details were available at the time of writing.

      • Sucat-Fort Bonifacio Pipeline: 15km-long gas pipeline will transport gas to industrial and commercial end-users in the metropolis. Construction will begin in 2017.
      • Sucat-Malaya (Su-Ma) Pipeline: 35km long, targeted for 2017.
      • Sucat-Quirino Pipeline: 38km long, targeted for 2020.
      • Metro Manila/Edsa-Taft Pipeline: 40km long, aiming for 2020.
      • Subic Pipeline: From BatMan2 to Subic. 40km long, targeted 2021 start-up.
      • Clark Pipeline: From BatMan2 to Clark. 25km long, targeting 2022 start-up.
      • Bataan-Manila (BatMan 2) Pipeline: Linking the provinces of Bataan, Pampanga and Zambales to Manila. 140km long, targeting a 2020 start.
      • Bataan-Cavite (BatCave) Gas Pipeline: 40km-long pipeline will serve as an interconnector to join BatMan 1 to BatMan 2. It is planned to start in 2022.
      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.


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