Four banks to fund Udenna's acquisition of Malampaya gas field
Udenna Corporation through its subsidiary, Malampaya Energy XP Pte Ltd has signed a Sale and Purchase Agreement (SPA) with Shell to acquire Shell Philippines Exploration BV (SPEX), which holds a 45% share and operatorship of the Malampaya Deepwater Gas to Power Project.
To complete this US$460 million transaction, Udenna will be receiving funds from these four banks: ING Bank, Australia and New Zealand Banking Group Ltd. (ANZ), Deutsche Bank, and Farallon Capital.
Located in Northwest Palawan, Malampaya Deepwater Gas to Power Project uses deepwater technology to extract natural gas from the deep-water reservoir. Malampaya delivers a fifth of the Philippines' growing electricity requirements through the supply of natural gas to five power plants in Luzon.
Country updates
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June 16, 2021
Stakeholder agreement singed for Clark airport concession
Luzon International Premiere Airport Development Corp. (Lipad), an SPV responsible for improvements works as well as operation and maintenance of Clark International Airport (CIA) in Pampanga, has ann...
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May 11, 2021
South Korea signs MoU with ADB for Climate and ICT Projects
The Asian Development Bank (ADB) and the Republic of Korea have signed a memorandum of understanding(MoU) to provide US$ 700 million in co-financing from the Republic of Korea for ADB sovereign develo...
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May 07, 2021
Philippines plans to build four solar PV-hybrid power plants
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Philippines to launch Swiss Challenge for CALAX expressway PPP
The government of the Philippines is planning to hold a Swiss Challenge before the end of 2021 for the US$ 421 million Cavite-Batangas-Tagaytay expressway (CBTEX) project. Ministry of Public Work...
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May 04, 2021
Makati sings OsMak 2 hospital PPP concession
Makati City in the Philippines has signed a concession to complete the remaining works for the hospital ng Makati 2 (OsMak 2) with a builder, Life Nurture Inc. According to the PPP agreement, the...
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