Vires FSRU

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Vires FSRU is a liquefied natural gas (LNG) import terminal proposed in the Philippines. In September 2024, the project was abandoned by its developer, and is now considered cancelled.

Location

The terminal is proposed to be located in Barangay Simlong, Batangas City, Philippines.

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Project details

• Owner: Vires Energy
• Parent company: Argo Group
• Vessel owner: BW Group
• Vessel parent company: BW Group
• Location: Batangas Bay in Barangay Simlong, Batangas City, Philippines
• Coordinates: 13.661629, 121.050747(approximate)
• Type: Import
• Capacity: 3 mtpa
• Status: Cancelled
• Start year: 2026
  • Formerly 2023

Background

In April 2021, the Department of Energy (DOE) in the Philippines approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas. The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal.

VEC proposed a floating storage and regasification unit (FSRU), with nearly 162,400m³ capacity at a site located 1.6km from the south-eastern coastline of Batangas Bay in Barangay Simlong, Batangas City. The FSRU is a converted LNG Tanker called ‘BW Paris’, which was built in 2009. It has a regasification capacity of up to 3 MTPA.

The proposed LNG terminal and regasification project will feature a turret mooring system for the FSRU, a 1.6km Subsea Gas Pipeline, and a 500MW floating power plant (FPP), which will act as an anchor market.

Additionally, the project will make use of a land area, which is classified as a ‘Heavy Industrial Zone’ for backup fuel supply during gas outage events.

VE’s integrated LNG terminal project is expected to come online in January 2023.

As of July 2023, as per the latest update in the Energy Sector Updates by the Department of Energy, the project is to be commissioned in April 2026.

In September 2024, Vires announced that it was withdrawing its notice to proceed (NTP), issued in 2021, for the project, which included the VEC/Brown power station. The developer plans to keep the plans for the power station and only scrap the LNG terminal; it intended to instead import gas through the country's pipeline network.