Dennis Uy's Chelsea Logistics is bringing together an alliance to develop an LNG terminal in the Philippines.
The tanker and ferry company is teaming up with state-run Philippine National Oil Co (PNOC) to explore the project, which would include storage capacity.
A site at PNOC’s facility in Batangas province is being examined, Chelsea said in an exchange filing.
It added that the fuel and LNG terminal project will be part of an LNG network plan with affiliate Phoenix Petroleum, CNOOC Gas and PNOC.
“This collaboration with PNOC provides opportunities for both Chelsea’s shipping and logistics businesses," said Chelsea president Chryss Alfonsus Damuy.
"Further to the potential inclusion of a fuel and LNG storage and terminal to our logistics arm, we are studying how to serve the future vessel requirements for the transportation of [Chelsea subsidiary] PNX’s LNG products.”
