{"id":329359,"date":"2024-09-09T06:44:39","date_gmt":"2024-09-08T22:44:39","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329359"},"modified":"2024-09-09T06:44:41","modified_gmt":"2024-09-08T22:44:41","slug":"trade-the-news-fgen-seeks-bidders-for-batangas-lng-cargo-delivery","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-fgen-seeks-bidders-for-batangas-lng-cargo-delivery\/","title":{"rendered":"Trade the News: FGEN seeks bidders for Batangas LNG cargo delivery"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEUTRAL on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>First Gen Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>FGEN<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 29.12<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

First Gen Corp. (FGEN) is seeking bidders for a new liquefied natural gas (LNG) supply cargo to be used in its gas-fired power plants in Batangas.<\/p>\n\n\n\n

The energy company, through its wholly owned subsidiary First Gen Singapore Pte. Ltd., intends to procure 154,500 cubic meters of LNG cargo, according to a bid notice.<\/p>\n\n\n\n

The selected bidder is set to be awarded on Sept. 16 and the delivery will commence from Oct. 14 to Oct. 18.<\/p>\n\n\n\n

The LNG cargo will be delivered to the Subic Bay Freeport in Zambales, where it will be loaded into the BW Batangas, a floating storage and regasification unit, and then used for the power plants.<\/p>\n\n\n\n

First Gen has a portfolio of four existing gas-fired power plants with a combined capacity of 2,017 megawatts located in the First Gen Clean Energy Complex in Batangas. These plants have been supplied for many years with gas from the Malampaya gas field, the country\u2019s sole natural gas provider.<\/p>\n\n\n\n

In June, First Gen announced that it has awarded the contract to Japanese company TG Global Trading Co. for the delivery of its fifth LNG cargo containing approximately 125,000 cubic meters.<\/p>\n\n\n\n

The LNG cargo, which was supposed to be delivered in July, has been deferred as the company said it still has residual gas.<\/p>\n\n\n\n

FGEN LNG Corp., a subsidiary of First Gen, constructed an interim offshore LNG terminal and executed a five-year time charter party for BW\u2009Batangas to provide LNG storage and regasification services.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329359","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329359"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329359\/revisions"}],"predecessor-version":[{"id":329361,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329359\/revisions\/329361"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}