JERA eyes larger LNG role in PH

Leveraging its integrated value-chain strength, Japanese energy giant JERA Co. Inc. is targeting to accelerate supply flows of liquefied natural gas (LNG) to the Philippines to help reinforce the country’s energy transition agenda and propel Aboitiz Power Corp.’s (AboitizPower) 50:50 balance in its energy mix goal.

- By MYRNA M. VELASCO

In a briefing with visiting Filipino journalists last week, JERA Asia Pte. Ltd. Chief Executive Officer (CEO) Izumi Kai underscored the company’s investment growth appetite for the Philippines, emphasizing that it is primed to explore broader opportunities for LNG supply or added capital infusion through its equity share in AboitizPower.

He qualified that any fresh capital will not come as a straight-up JERA-funded build, but as an indirect investment channeled through its 27-percent stake in AboitizPower, which in turn holds a significant share in Chromite Gas Holdings Inc., the force behind the integrated Ilijan gas plants and the Linseed LNG terminal in Batangas province—a mammoth partnership between Meralco PowerGen Corp., San Miguel Global Power Holdings Corp. of the San Miguel Group, and AboitizPower.

Kai said the targeted LNG deliveries shall be anchored on JERA’s value-chain play; thus, it is not only investing in companies but also in fuel supply and technological advances that will enable the firm to deploy its demonstrated expertise honed across global markets.

“We try to consider not just investing in the company, but also fuel supply, technological improvement so that we can leverage our experience and know-how in these countries,” he stated.