$3.2-Billion Worth Natural Gas Production Project Launched in Sulu

A considerable amount of money was poured into the Philippines worth $3.2 Bilion in natural gas production project launched in the island of Sulu in Southern Mindanao.

According to the Philippine News Agency (PNA), the liquified natural gas refinery complex is worth roughly P164 billion, considered as the single largest investment ever in the history of Muslim Mindanao region.

The multi-billion project will soon to rise in Sulu, the groundbreaking rite for the natural gas refinery complex was the highlight of activities marking the 39th founding anniversary celebration on October 22 of the Municipality of Lugus.

“This is phenomenal and we welcome it as a great opportunity to enhance lives in Sulu, particularly in our town,” said town Mayor Hadar Hajiri, who is also the president and chief executive officer of the Hadar and Medzar Oil and Gas Corp. (HMOGC).

The HMOGC is the local partner of the Energy World International Ltd. (EWIL), a British company engaged in global energy development, which bankrolls the just-launched project with US$3.2 billion (equivalent to some P163-billion), according to Dr. Amildasa Annil.

According to Sulu Vice Governor Sakur Tan II, Mayor Hajiri, and Energy World International Ltd. (EWIL) Executive Director Graham Elliot led the groundbreaking rites at Barangay Parian Kayawan, one of the island villages in Lugus town which were found to have huge natural oil and gas deposits believed linked to the petroleum-rich Brunei Darussalam, Annil said.

The host village is tagged as Lugus Island Petroleum Park (LIPP) complex earmarked to have a liquefied natural gas (LNG) production and export terminal, a seaport, an airport, an industrial precinct, a residential area, and a power generation plant under an enabling memorandum of understanding (MoU).

The MoU was signed last Sept. 16 in Zamboanga City by Mayor Hajiri and Elliot in symbolic ceremony witnessed by Mindanao Development Authority (MinDA) Chairman Manny PiƱol and Western Mindanao Command (WMC) head Lt. Gen. Cirilito Sobejana, Annil said.

Vice Gov. Tan II, representing his father-Gov. Sakur Tan Sr., pledged the provincial government's "all-out support" for the project, describing it as a "highly laudable venture offering potentials for more energy supply and employment opportunities in Sulu and other parts of the country."

Source: PNA

$3.2-Billion Worth Natural Gas Production Project Launched in Sulu $3.2-Billion Worth Natural Gas Production Project Launched in Sulu Reviewed by Phil Newsome on October 28, 2019 Rating: 5
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