MANILA – Phoenix Petroleum said Thursday that the planned joint venture with China's CNOOC Gas and Power Group Co. Ltd has been in talks with the Philippine National Oil Company (PNOC) to secure an alliance for its liquefied natural gas project.
Tanglawan Philippine LNC Inc. received an announcement in January to begin construction of a liquefied natural gas (LNG) terminal in Batangas.
Tanglawan "reviews" an agreement with the PNOC, said businessman Dennis Uy, Phoenix Petroleum, to the stock market.
Phoenix Petroleum proposed to participate in, among other things, pipeline infrastructure, banking gas and equity.
The LNG hub, which is expected to be operational in 2023, could support demand for clean energy in Luzon, the company said.
Dennis Uy also partnered with China's state-owned China Telecom to build a third-party telecommunications consortium, Mislatel, which challenged Globe's and DuPont Inc.'s duopoly.