P45-B European investment poured into new platform for Malampaya

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    SUBIC, Zambales—A delegation of the European Union arrived at Keppel Subic Shipyard here to witness the ongoing construction of the second offshore gas platform as part of the Malampaya Deep Water Gas-to-Power Phase 3 project.

    This second Malampaya platform will ensure that the current level of gas production is maintained. The large-scale project required the use of the 1,500-ton gantry crane, the largest in Southeast Asia that has been built at the Keppel Subic Shipyard specially for Malampaya Phase 3.

    The Europian Union is already the largest investor in the Philippines by stock, at P440 billion to date, creating hundreds of thousands of jobs in this country while adding value to the economy through technology and capital transfer.

    The Malampaya Deep Water Gas-to-Power Project is one of the largest and most significant industrial endeavours in Philippine history, heralding the birth of the natural gas industry in the country.

    Natural gas from Malampaya fuels three power stations with a combined capacity of 2,700 megawatts to meet 40 to 45 percent of Luzon’s power generation requirements, reduce oil imports, provide a stable supply of energy and a cleaner source of power.

    Malampaya Phase 3, together with Malampaya Phase 2, aims to maintain the level of gas production to fulfil commitments under existing gas sales agreements, thus ensuring the steady supply of natural gas power the Luzon electricity grid.

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