China firm eyes PH as link in LNG trade.
China's leading clean energy service provider Jovo Group Company Ltd. Guangdong (Jovo) is planning on making the Philippines a hub for its shipping operations in the region, the Subic Bay Metropolitan Authority (SBMA) said Thursday.
In a statement, the SBMA said Jovo was set to start its ship-to-ship transfer operations, which would involve carrying liquefied natural gas (LNG) via an oil tanker before being transferred to smaller vessels bound for China. Ports in China could not accommodate bulk carriers because of depth issues.
Jovo International Business general manager Yuan Lu was quoted as saying the LNG would be brought to Subic from Australia and Indonesia via a 94,000-ton bulk carrier. The cargo would then be transferred to a smaller 47,000-tonnage capacity ship bound for China.
Lu said the operations of Jovo would then be assessed after five years, the results of which would determine if a regional hub should be established to accommodate the delivery of LNG to local markets and the rest of Southeast Asia.
He said Jovo's long-term plan was to introduce the LNG to local markets in the Philippines, especially those in the transport sector as this kind of fuel is safe and environment-friendly.
The firm said it has decades of comprehensive experience in clean energy shipping, storage, processing and sales with zero accidents.
Jovo recently held a consultation with stakeholders in Subic.
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|Publication:||Philippines Daily Inquirer (Makati City, Philippines)|
|Date:||Oct 21, 2016|
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