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First Gen, Prime Infra agree on lease deal for LNG terminal

December 28, 2023

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The Philippine Star

Lopez-led First Gen Corp. and Enrique Razon's Prime Infrastructure Capital Inc. have agreed to a 15-year lease of FGEN LNG's liquefied natural gas storage and regasification terminal in Batangas.

- Richmond Mercurio

A terminal lease agreement was signed between FGEN LNG Corp., a wholly owned subsidiary of First Gen, and Gas Aggregator Philippines Inc., a wholly owned subsidiary of Prime Infra.

First Gen said the effectivity of the terminal lease agreement is conditioned upon the satisfaction of a number of conditions precedent.

A memorandum of understanding for the proposed lease of the FGEN LNG terminal was signed earlier this year by First Gen and Prime Infra.

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