The Philippine National Oil Company (PNOC) has selected the Netherlands' Rebel Group International BV to provide transaction advisory services, for the $2.1 billion Batangas-Manila 1 (BatMan 1) natural gas pipeline project.
The services will be funded by the Philippine Public Private Partnership (PPP) Center. PPP Center executive director Cosette Canilao and Rebel Group team leader Vivek Sharma signed the contract on Monday.
The Rebel Group will now undertake the feasibility study for the BatMan 1 and provide PNOC transaction advisory support until the project’s financial close.
PNOC has ramped up its plan to develop the natural gas industry by building a series of network pipelines in Luzon as part of efforts to reduce the country’s dependence on oil.
The Batangas to Manila Natural Gas Pipeline Project (BatMan 1) involves the construction of natural gas transmission and distribution pipeline facilities from the province of Batangas to transport and supply natural gas to the various industries in the economic zones of Batangas, Laguna and Cavite. The project will effectively reduce the country’s dependence on oil.
Rebel Group has already been selected for other PPP projects in the Philippines. Rebel is acting as transaction adviser to study the feasibility of a potential public-private partnership (PPP) contract to develop the Poro Point San Fernando Airport in La Union, located at 275 Km north of Manila.
Finally, the firm is advising the Philippine Department of Transportation and Communications to prepare a feasibility study for the Manila-Makati-Pasay-Parañaque Mass Transit System.