Manila, Oct. 28 -- A proposed liquefied natural gas (LNG) corridor between Subic and New Clark City was formalized following the signing of a memorandum of understanding (MOU) between the Bases Conversion and Development Authority (BCDA) and the Singapore-based AG&P Group.

BCDA, in a news release Tuesday, said the project backs the Luzon Economic Corridor (LEC), a major infrastructure project launched under the G7 Partnership for Global Infrastructure and Investment (PGI) that aims to connect industrial sectors from Subic Bay, Clark, Metro Manila and Batangas.

BCDA President and Chief Executive Officer Joshua Bingcang and AG&P Group Chief Executive Officer Karthik Sathyamoorthy signed the MOU on Oct. 14, it said.

The MOU provides for ...