* To be a floating facility near Shell's Tabangao refinery
* To make final investment decision within 12 months
* Gives no investment figures or other details of project
MANILA, June 21 (Reuters) - Royal Dutch Shell aimsto build the Philippines' first liquefied natural gas (LNG)import terminal in the next two to three years, as Asia'sfastest-growing economy seeks to diversify its energy sources tomeet robust demand.
The terminal will be a floating facility near Shell'sTabangao refinery in Batangas province, one of only tworefineries in the Philippines.
"We could make a final investment decision within the next12 months," Roger Bounds, Vice President Global LNG, said at amedia briefing, announcing the results of a one-year feasibilitystudy on the project. He declined to give any figures for theinvestment or other details of the project.
Shell's new terminal would add the Philippines to a growingnumber of Southeast Asian nations, including Thailand,Indonesia, Malaysia and Singapore, who have come online inrecent years, and will have to compete for supplies with larger,established LNG buyers like Japan.
Southeast Asia's LNG demand is expected to more than doubleto 20 million tonnes by the end of the decade from around 9million tonnes in 2015, according to PFC Energy analysts.
A final decision for Shell to invest in the Philippinesproject would depend on regulatory approvals and off-takeagreements that the company can sign.
Global trade in LNG will grow by nearly a third by 2018,with supplies from the United States and Australia reversing ashortage expected over the next two years, according to theInternational Energy Agency.
Philippine Energy Secretary Carlos Jericho Petilla saidShell's LNG project could help run a 400-600 megawatt powerplant.
"The only way we can actually improve the (energy) mix rightnow is (tapping) LNG," Petilla told reporters after meeting withShell officials ahead of the media briefing. "So how importantis this project? It's extremely important."
The Philippines, whose economy grew 7.8 percent year-on-yearin the first quarter, imports almost all of its fuelrequirements.
Several other companies, including BG Group and KoreaWestern Power, have also proposed LNG receiving terminals in thePhilippines, but have yet finalise development plans.
