Solon explains allure of aging Malampaya to business tycoons MVP, Uy - Manila Bulletin

Surigao del Norte 2nd district Rep. Johnny Pimentel believes he knows what makes the Malampaya deep-water gas-to-power project so alluring to businessmen despite it being already long in the tooth.Pimentel said the answer lies in Malampaya’s 504-kilometer, 24-inch diameter pipeline that delivers gas to landfall in Batangas, as well as the Sampaguita gas discovery in Recto Bank some 250 kilometers southwest of Malampaya.

Pimentel gave this assessment shortly after businessman Manny V. Pangilinan’s PXP Energy Corp. bared that it was bidding for the 45 percent stake of Royal Dutch Shell plc in the Malampaya project in Northwest Palawan. Last September, Shell bared plans to divest from Malampaya to streamline and strengthen its business, amid the collapse of oil prices due to the COVID-19 crisis.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EU business mission featured in 4-day virtual event - Manila BulletinThe European Union will be fielding a construction and building technologies business mission composed of about 50 companies under the EU Business Avenues in South East Asia program to showcase their latest products to the region’s vast market via the virtual platform from November 5 to 8, 2020.
Source: manilabulletin - 🏆 25. / 51 Read more »