Oct. 9--ABACUS Consolidated Resources & Holdings Inc. said it is keen on putting up a gas pipeline that would run from Batangas to Manila. In a statement to the Philippine Stock Exchange, Abacus said its board of directors approved the submission of an unsolicited proposal to state-owned Philippine National Oil Co.-Exploration Corp. (PNOC-EC) for the Batangas-to-Manila Natural Gas Pipeline Project (Batman I).

Abacus is a holding company with interests in gold and coal mining, real estate and financial services.

The company also controls a minority stake in Pacific Online Systems Corp., which holds the exclusive right to lease online lottery equipment for the lotto operations of state-run Philippine Charity Sweepstakes Office (PCSO) in the Visayas and Mindanao.

The pipeline project that Abacus is interested in undertaking is meant to make gas from Malampaya available to potential users in the industrial, commercial, transport and residential sectors of Metro Manila.

Foreign companies such as PTT of Thailand, Marubeni Corp. of Japan, Gazprom of Russia and Petrochina earlier expressed interest in putting up the project.

Jacinto Paras, PNOC-EC chairman earlier said the company would have to secure excess supply from the Malampaya natural gas field as well as from banked gas held by the government before it can put up the project.

He said the gas supply would be used for the "anchor load" or a power plant that will justify the construction of the Batman I pipeline.

PNOC- EC owns a minority stake in the Malampaya. One of its partners, Shell Philippines Exploration B.V., had said it might take until next year before it can determine the winning bidder for the excess gas supply. Abacus' shares closed flat Thursday at P0.91 per share.

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