They want to operate it in two to three years," Petilla said after meeting with Shell officials yesterday. Results of the feasibility study, initiated in July 2012 and presented to the media yesterday confirmed the viability of developing an import regasification terminal in the Philippines, particularly a floating storage instead of a land-based terminal. In a separate press briefing, Roger Bounds, vice-president of Shell's Upstream International Global LNG said that based on the study, the viable option is to put up a floating storage and re-gasification vessel (FSRU). The FSRU, to be located in Shell's terminal in Batangas, is also a more viable option considering the weather patterns in the Philippines. An FSRU has high back-up equipment design, has optimal jetty location and can exit faster in case of a cyclone.