Shell will develop an LNG import and re-gasification
terminal in the Philippines, members of the UK government
confirmed on Thursday.
The news broke as President Benigno Aquino III of the
Philippines visited the UK this week as an official guest of
the British government.
During the visit, Shell confirmed its plans to
increase its investments with an addition of over $1.6 billion
for the development of an LNG import and re-gasification
terminal, the UK Foreign & Commonwealth Office said
in a news release.
The precise location of the terminal was not disclosed in
the report. However, other news reports said
the proposed site would be adjacent to
Shells refinery facility in Tabangao,
The feasibility study is expected to be completed
within a year with a "first gas" target date is in
Shell is already the largest foreign investor in the
Philippines at over $5 billion.
President Aquino and eight of his senior cabinet ministers
will next travel to the US, where they will meet with President