Svitzer is investing in four new tugs in southeast Asia after winning a long-term contract to support a new LNG import terminal
The escort tugs will support gas carriers using First Gen Corp’s floating storage and regasification unit (FSRU), which will import LNG into Batangas City from Q3 2022, providing a new source of gas into the Luzon grid to supplement gas from the offshore Malampaya field, where production is expected to fall in the coming years.
First Gen has contracted BW Gas to supply the FSRU on a five-year lease.
First Gen said Svitzer will undertake the 10-year contract using a new fleet of four tugs, each with bollard pull of around 75 tonnes. These tugs will berth and undock LNG carriers, provide navigation assistance and pilot transfer. Fire-fighting, pollution control, port and vessel security services and fender management will also be provided by the new tugs.
There are no details of where Svitzer has ordered these tugs from, but several shipyards in southeast Asia are capable of building these types of vessels.
“FGEN LNG is developing the project to accelerate its ability to introduce LNG to the Philippines as early as Q3 2022,” said First Gen, “to serve the natural gas requirements of existing and future gas-fired power plants of third parties and FGEN LNG affiliates.”
First Gen plans to build more gas-fired power plants in the Philippines in the long term. It plans to spend US$530M this year, with US$120M going to its offshore LNG terminal.
In May, First Gen secured US$308M in finance to pay back existing debt and fund its capital expenditure.
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