Manuel V. Pangilinan has confirmed his interest in acquiring the Shell Philippines Exploration B.V. (SPEX)’s stake in the Malampaya project, through PXP Energy Corporation (PSE:PXP) . “We’re looking at it,” Pangilinan, who is the Chairman of PXP, said in a virtual briefing with reporters. “We’ve been talking to JP Morgan who’s advising Shell on the sale of their share in Malampaya,” he said. In September, 2020, SPEX announced that it is exploring options to divest its interest in the Malampaya deep-water gas-to-power project as part of its portfolio rationalization efforts. “The plan, assuming that we’re allowed by whoever owns Malampaya eventually, is to pipe the gas from SC 72 to the Malampaya facility so that they can process the gas. After processing, pipe the gas to Batangas, where as of now, all of the gas plants are located,” Pangilinan said. Moreover, Pangilinan also affirmed interest in the liquefied natural gas (LNG) business, emphasizing that this is something the group should look at. “Particularly if we’re successful in SC 72, and if we’re fortunate to buy the Shell stake in Malampaya, then we’re in the gas business,” Pangilinan said. “I think the group should take a look at that business,” he added, emphasizing that nothing is definite at the moment. Apart from PXP, San Miguel Corp. President Ramon Ang also expressed interest in acquiring SPEX’s Malampaya stake.