Listed property developer MRC Allied Inc. has signed an agreement with a Chinese power company that’s interested in taking on liquefied natural gas (LNG) initiatives in the Philippines.

In a disclosure, MRC Allied said on Friday it signed a memorandum of understanding (MOU) with Guangdong Power Engineering Co. Ltd.(GPEC), a unit of the China Energy Engineering Group, to explore the likelihood of investing, constructing, developing and operating LNG facilities in the country.