Hotel Sofitel Brussels Europe
16 September 2014
President Benigno S. Aquino III began his business meetings in Brussels, Belgium with the Shell company officials led by Simon Henry (Chief Financial Officer, Royal Dutch Shell PLC), Edgar Chua (Country Chairman, Shell Companies in the Philippines), Sahala Sianipar (Asia-Pacific Government Relations, Royal Dutch Shell PLC) and Ramon del Rosario (Vice President for Communications, Pilipinas Shell Petroleum Corporation).
Among the topics discussed in the meeting are the updates on Shell’s investments in the Philippines such as the US$1 billion Malampaya Phases 2 and 3 Project which aims to address the natural decline in pressure from the Malampaya reservoir before 2016-2017 by installing new facilities to maintain the level of natural gas production. Malampaya-fueled power plants contribute 2,759 megawatts (MW) to the Luzon grid. The said project resulted in the creation of 1,400 new direct and about 6,000 indirect jobs in Subic, Olongapo and nearby provinces.
Another company investment is the Shell Tabangao Asset Renewal – Tabangao Refinery EURO IV Compliance Project in Batangas City with an estimate cost of US$150 million. This project will enable the existing Shell refinery to produce lower-sulfur diesel in compliance with EURO IV emission standards by January 2016.
Shell is also finalizing the construction of a Liquefied Natural Gas (LNG) Import Terminal in Batangas City that will allow importation of LNG for power plants, transport, and commercial industries.
Likewise, it is expanding its construction of an Oil Import Terminal in Cagayan de Oro, Mindanao (North Mindanao Import Facility) in partnership with the Philippine Ports Authority (PPA). The project will allow bigger vessels to supply fuel directly to the Mindanao region and will increase employment from the current 500 personnel to around 700.
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