Phoenix Petroleum, China's CNOOC seek partnership with Philippine National Oil Company


Posted at Feb 14 2019 12:05 PM | Updated as of Feb 14 2019 02:14 PM

MANILA - Phoenix Petroleum on Thursday said its planned joint venture with China's CNOOC Gas and Power Group Co. Ltd is in talks with the Philippine National Oil Company (PNOC) to secure alliance for its liquefied natural gas project. 

Tanglawan Philippine LNC Inc in Januaray secured a "notice to proceed" to build a liquefied natural gas (LNG) terminal in Batangas.

Tanglawan is "looking into" signing a Memorandum of Understanding with the PNOC, businessman Dennis Uy's Phoenix Petroleum told the stock exchange.

Phoenix Petroleum proposed to participate in the areas of pipeline infrastructure, banked gas, and equity, among others.

The LNG Hub, expected to be commercially operational by 2023, could support the demand for clean energy in Luzon, the company said. 

Dennis Uy had also entered into a partnership with China's state-owned China Telecom to mount a third telecommunication consortium Mislatel, challenging the duopoly of Globe and PLDT Inc.