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Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?
12-11-2012, 12:05 AM
Post: #1
Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?

That lowly Energy World that can't get any financing or do anything right is moving ahead briskly on its energy spending in The Philippines for an LNG terminal, gas fired power plant, buildout of retail fuel with Interoil (who?) and hydro in The Philippines.  Oh c'mon, this has to be another promotional scam to be sure and stay away from.  They'll never be able to get that stuff financed, will they?


HK-based firm to build $1B power portfolio in PH



 


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Hong Kong-based Energy World Corp. Ltd. is building an impressive power portfolio in the Philippines comprising natural gas facilities and renewable energy power plants, with investments possibly exceeding $1 billion.

Eduardo T. Rodriguez, country manager for the local unit of Energy World, said the company’s natural gas projects might consist of two liquefied natural gas (LNG) hub terminals worth roughly $150 million and a 300-megawatt combined cycle gas turbine power plant that would require as much as $300 million.

The projects, all located in the province of Quezon, will be implemented in two phases. The first phase involves the construction of a 130,000-cubic meter LNG storage tank, regasification facility, jetty and the installation of supporting infrastructure while the second phase will involve the establishment of another 130,000-cubic-meter LNG storage tank. The site of the terminal will be adjacent to the existing Pagbilao coal-fed power plant of Team Energy, which has a 230-kilovolt switchyard in place and a sheltered deep-water berthing for ocean-going vessels.

The 300-MW plant, which will be made up of two 150-MW units to be put up one after the other, is seen to become one of the “most efficient power-producing plants in Southeast Asia which, when combined with the fuel gas from the terminal, will allow highly competitively priced electricity to be generated and sold from the plant.”

According to Rodriguez, Energy World was on track to completing the first phase of its natural gas projects with the LNG hub expected to start commercial operations by 2014 and the first 150-MW plant by either 2015 or 2016. The electricity to be generated from the power facility would be sold directly to the wholesale electricity spot market (WESM), he added.

Rodriguez, the former governor of Quezon province, said the company was confident of being able to secure natural gas supply as it operates and will soon operate gas fields in Australia, Indonesia and Papua New Guinea.

Stewart W. G. Elliot, managing director and CEO of Energy World, also hinted at plans to expand the company’s presence to Visayas and Mindanao where it also plans to put up LNG hubs on small islands.

Energy World is also looking to put up a 120- to 140-MW hydropower plant and a 200-MW wind farm in General Nakar, Quezon, according to Rodriguez.

He said the hydropower facility was expected to cost $400 million, but declined to cite estimates for the wind farm as the project was still on the drawing board and the decision to move it forward was contingent on the rise in electricity demand. But based on the general rule, at least $2.5 million would be needed to produce a megawatt from wind power. This means that for a 200-MW portfolio, Energy World may have to invest $500 million for the project.

This early, Energy World was in talks with local banks for possible project financing, Rodriguez added."

http://business.inquirer.net/97331/hk-ba...olio-in-ph

"Energy World to expand in Luzon

MANILA, Philippines - The local unit of Hong Kong-based Energy World Corp. will spend $250 million for a liquefied natural gas (LNG) hub and a natural gas power plant in Southern Luzon.

Energy World Philippines is also ready to spend as much as $400 million for a hydropower project as it builds its portfolio in the country, an official said.

“For the terminal hub, initially we are building one worth $100 million...For the power plant, it is $150 million,” Eduardo T. Rodriguez, country manager of Energy World International Ltd. told reporters.

“We are now going to start our work for the 130,000 cubic meter LNG tank,” Rodriguez said, adding that the company has drawn funds from lenders like Standard Chartered Bank.

Energy World will start the operations of an LNG terminal in Quezon province in January 2014.

The first phase of the project is composed of the construction of a 130,000 cubic meter LNG storage tank, regasification facility, jetty and supporting infrastructure.

Rodriguez said Energy World will spend $150 million for the two-phase project.

The LNG hub will be complemented with a 150-megawatt (MW) natural gas power plant that will be ready in 2016.

The company entered into a deal with InterOil Corp. and Pacific LNG Operations Ltd. to establish an associated downstream gas sale, purchase, transmission and distribution service company.

“We are going to make sure we have a big supply of LNG in the Philippines,” said Energy World CEO and managing director Stewart Elliott.

“We want to develop LNG for power generation, city gas, vehicle fuel, cement plants and a lot of the industries that need gas,” Elliott said.

In January 2011, EWC received a 25-year permit for the development, construction and operation of the LNG terminal hub from the Department of Energy. The permit can be extended.

Rodriguez said LNG would be sourced from Australia, Indonesia or Papua New Guinea where it has its own natural gas field.

The construction of another 150 MW power plant will depend on energy demand, Rodriguez said, adding that the company will sell electricity to the wholesale spot market.

“We have no offtaker, we do not have a contract to sell to anyone, we will sell directly to the WESM.”

“We have our own gas field, we are not dependent on the people supplying us,” he said.

Energy World is also looking at putting up more LNG terminals in the country.

“We will have the main hub in Pagbilao, Quezon and also [build] other hubs so many of the islands will be able to get LNG easier,” Elliott said, adding that new LNG hubs can be put up in Visayas and Mindanao.

Given the low interest rates, Energy World is in talks with banks for other energy projects in the country.

“We want to go to Kanan hydropower [in Quezon] for 120-140 MW and also for a wind farm. Our target is 200 MW in General Nakar, Quezon,” Rodriguez said.

Rodriguez said the company can spend as much as $400 million for the hydropower project. To date, Energy World pays for the water rights in the project.

The energy firm will apply for a service contract in January next year, Rodriguez said."

http://www.philstar.com/business/2012/12...pand-luzon

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12-11-2012, 12:19 AM (This post was last modified: 12-11-2012 12:20 AM by Tree.)
Post: #2
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?

'Palm' pid='14405' datel Wrote:

That lowly Energy World that can't get any financing or do anything right is moving ahead briskly on its energy spending in The Philippines for an LNG terminal, gas fired power plant, buildout of retail fuel with Interoil (who?) and hydro in The Philippines.  Oh c'mon, this has to be another promotional scam to be sure and stay away from.  They'll never be able to get that stuff financed, will they?

..."The company entered into a deal with InterOil Corp. and Pacific LNG Operations Ltd. to establish an associated downstream gas sale, purchase, transmission and distribution service company.

“We are going to make sure we have a big supply of LNG in the Philippines,” said Energy World CEO and managing director Stewart Elliott.

“We want to develop LNG for power generation, city gas, vehicle fuel, cement plants and a lot of the industries that need gas,” Elliott said.

In January 2011, EWC received a 25-year permit for the development, construction and operation of the LNG terminal hub from the Department of Energy. The permit can be extended.

Rodriguez said LNG would be sourced from Australia, Indonesia or Papua New Guinea where it has its own natural gas field."...

http://www.philstar.com/business/2012/12...pand-luzon

Palm, check out the name of the site that LEAKED this INSIDER INFO in your above link!!!!!

Philstar.com...........yeah right.

Obviously this may attract the attention of Bonk/Sussman and kick off anothe SEC investigation of SHU!!

I can only hope that while in their 30 day ban from posting, per the gentleman's bet they lost, B/S are also not following minute to minute developments  on SHU.

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12-11-2012, 12:24 AM
Post: #3
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?
Noooooooooooooo, not again; forgot to delete that link to Phil's computer that spews out illegal insider info to only us 24 hours a day. I'll go back in and edit the link so it says xxxstar.com. That'll throw the SEC off of our trail.
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12-11-2012, 12:36 AM
Post: #4
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?

"Rodriguez said LNG would be sourced from Australia, Indonesia or Papua New Guinea where it has its own natural gas field."

EWC has its own natural gas field in PNG??!! Have I been missing something?

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12-11-2012, 12:41 AM
Post: #5
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?
["That lowly Energy World that can't get any financing or do anything right is moving ahead briskly on its energy spending in The Philippines for an LNG terminal, gas fired power plant, buildout of retail fuel with Interoil (who?) and hydro in The Philippines. Oh c'mon, this has to be another promotional scam to be sure and stay away from. They'll never be able to get that stuff financed, will they?"]

For those new to Palm's sense of humor, he's only kidding here..
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12-11-2012, 12:41 AM
Post: #6
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?
Nice Catch jake !

"“We have our own gas field, we are not dependent on the people supplying us,” he said."

Someone better tell Duma that EWC has found gas in PNG !!!
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12-11-2012, 11:49 AM
Post: #7
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?

Another article with a few more details on EWC's doings in The Philippines. Not the comment on the power plant:

"The 300-MW plant, which will be made up of two 150-MW units to be put up one after the other, is seen to become one of the most efficient power-producing plants in Southeast Asia which, when combined with the fuel gas from the terminal, will allow highly competitively priced electricity to be generated and sold from the plant."

Modular it seems and highly efficient. You don't suppose EWC has this whole modular thing figured out do you?

"Philippines : ENERGY WORLD builds a STRONG power portfolio in PHILIPPINES [TendersInfo (India)]
Al Bawaba Ltd.
Hong Kong-based Energy World Corp. Ltd. said that it is constructing a power portfolio in the Philippines including natural gas facilities and renewable energy power plants along with investments beyond $1 billion. Eduardo T. Rodriguez, country manager for the local unit of Energy World, said that the company s natural gas projects include two liquefied natural gas (LNG) hub terminals worth approximately $150 million and a 300-megawatt combined cycle gas turbine power plant which needs around $300 million.
The projects are all situated in the province of Quezon. It will be executed in two phases. The first phase comprises the construction of a 130,000-cubic meter LNG storage tank, regasification facility, jetty and the installation of supporting infrastructure. The second phase includes setting up of another 130,000-cubic-meter LNG storage tank. The site of the terminal will be closest to the present Pagbilao coal-fed power plant of Team Energy that has a 230-kilovolt switchyard in place and a sheltered deep-water berthing for ocean-going vessels.
The 300-MW plant, which will be made up of two 150-MW units to be put up one after the other, is seen to become one of the most efficient power-producing plants in Southeast Asia which, when combined with the fuel gas from the terminal, will allow highly competitively priced electricity to be generated and sold from the plant.
Rodriguez said that Energy World was concluding the first phase of its natural gas projects with the LNG hub which will begin commercial operations by 2014 and the first 150-MW plant by either 2015 or 2016. The electricity from the power facility will be sold directly to the wholesale electricity spot market (WESM).
Rodriguez, who is the former governor of Quezon province, said that the company can secure natural gas supply as it operates and it will soon operate gas fields in Australia, Indonesia and Papua New Guinea.
Stewart W. G. Elliot, managing director and CEO of Energy World said that the company would expand the company s presence to Visayas and Mindanao where it also plans to put up LNG hubs on small islands.
Energy World seeks to establish a 120- to 140-MW hydropower plant and a 200-MW wind farm in General Nakar, Quezon, said Rodriguez. The hydropower facility would cost $400 million. Based on the general rule, at least $2.5 million is required to generate a megawatt from wind power i.e. for a 200-MW portfolio, Energy World should invest $500 million for the project. Energy World has held discussions with local banks for possible project financing, Rodriguez added."
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12-11-2012, 12:12 PM
Post: #8
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?
Now I wonder where we have heard this before:
"Rodriguez, who is the former governor of Quezon province, said that the company can secure natural gas supply as it operates and it will soon operate gas fields in Australia, Indonesia and ____Papua New Guinea."
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12-11-2012, 01:17 PM
Post: #9
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?

'jft310' pid='14483' dateline='<a href="tel:1355191 Wrote:Now I wonder where we have heard this before: "Rodriguez, who is the former governor of Quezon province, said that the company can secure natural gas supply as it operates and it will soon operate gas fields in Australia, Indonesia and ____Papua New Guinea."

 Has anyone informed the PNG govt that EWC will be operating a gas field there? I don't want to be excessively sceptical of Mr. Rodriguez but does this statement bear any relation to reality?

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12-11-2012, 01:32 PM
Post: #10
RE: Lowly EWC to spend $1 Billion on energy portfolio in Philippines; What?
Jake- Visit Henry's take on modular and FLNG. Who thinks the PNG govt wants cost blow outs like at Exxon_OSH and Australia. Henry's original plan had them bearing the costs of those nasty change agreements. FACT-The PNG gvot can't afford cost blow out like Exxon's. Best to pass those on to the manufacturers.
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