Call by Liquified Natural Gas (LNG) Investors

Music Room, Malacanan Palace
12 February 2010


President Gloria Macapagal Arroyo welcomed a group of multinational investors eyeing a 100-kilometer natural gas pipeline to set the stage for immediate implementation of the project in the country.

In a courtesy call at Malacanan Palace, the President met with the top executives of Sultan International Holdings, Abacus Consolidated Resources & Holdings, Inc. and SAIPEM ENI to discuss possible project proposals to construct the Batangas-Manila (Batman I & II) natural gas pipelines and a 300-megawatt power plant. Joining the investors are Energy Secretary Angelo Reyes, 2nd District Representative Hermilando Mandana and Glenda Martinez, Senior Vice President of Philippine National Oil Corporation (PNOC).

Abacus Consolidated Resources & Holdings, Inc. engages in gold and coal mining operation. gaming equipment leasing, and real estate and financial services. SAIPEM ENI is a world leader in oil and gas contracting services and is one of the best balanced turnkey contractor in the oil and gas industry based in Italy. Sultan International Holdings is a global business conglomerate based in the United Arab Emirates. (NFB)

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