Shell secures VisMin energy future with multi-billion project
Jan 22, 2014
In an effort to help the country secure a more sustainable energy future, Pilipinas Shell Petroleum Corporation is putting up a multi-billion peso fuel import facility in Cagayan de Oro that is expected to cater to the power and energy needs of millions of residents, motorists and other end-users and consumers in Visayas and Mindanao.
This development was bared by the Philippine Ports Authority, the owner and operator of the Cagayan de Oro port eyed as the vital site of the import facility project. The recent announcement coincided with the commemoration of gas technology and smarter mobility proponent Shell’s centenary in the Philippines this year.
Dubbed the North Mindanao Import Facility (NMIF), the project is aligned with the policy thrust of the Department of Energy (DoE) to promote investment in the energy sector.
The project will contribute toward two of DoE’s directives under the Philippine Development Plan 2011-2016, which are: to promote development and upgrade of the downstream infrastructure, and to update the Oil Supply Contingency Plan through the establishment of oil stockpile.
The NMIF provides an additional source point for fuels that can be distributed to depots in the Visayas and Mindanao. The facility will contribute to increased security of energy supply as it will provide additional storage capacity of finished petroleum products. At the same time, the facility will help reduce maritime risks as source of petroleum products is closer to the intended distribution points.
Shell, as a global leader in power, energy and gas technology, continuously works to meet the increasing energy demand and supply challenges of the world by delivering smarter products and cleaner energy, smarter infrastructure, promoting sustainable mobility, and by developing new energy sources such as cleaner-burning natural gas, to address the energy challenge while mitigating environmental impact.
In the Philippines, Shell’s fundamental orientation toward social development has contributed to nation-building, with numerous projects and programs attendant to its line of business in the communities and areas where it operates. These include advocacies supporting sustainable mobility, clean and efficient transport, road safety, driver education, exploration technology, natural gas, developing new energy sources, and many others.