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Abacus submits proposal for natgas pipeline.
Byline: Jose Bimbo F. Santos
Listed Abacus Consolidated Resources & Holdings, Inc. has submitted a proposal to the Philippine National Oil Co.-Exploration Corp. (PNOC-EC) to develop the Batangas to Manila natural gas pipeline.
In a report to the exchange yesterday, Abacus said the proposal for the Batman I project would still be subject to evaluation by the PNOC-EC and would "undergo the competitive challenge process under PNOC's JV (joint venture) Guidelines and Procedures."
The Batman I project, which covers 100 kilometers will allow natural gas users in Metro Manila to get supply from the Malampaya gas field, the largest natural gas development …
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