Government should focus on developing liquefied natural gas (LNG) terminals in anticipation of the depletion of the Malampaya gas resource by 2024, according to Pedro Maniego Jr., chairman of the Energy Lawyers Association of the Philippines.
Maniego said in a webinar hosted by the European Chamber of Commerce of the Philippines yesterday the government should also accept the country may not be able to conduct oil and gas exploration activities in the contested West Philippine Sea “for a long time.”
“It will take a long time to resolve the West Philippine Sea (issue) considering the hard stance of the Chinese government that the area belongs to them. How do you resolve that?
What we need is accept that probably, we will not be able to drill there for a long time and accelerate LNG terminals because we need them,” Maniego said.
Maniego, also former chairman of the National Renewable Energy Board, said construction of terminals is much needed with only two years left before the expected depletion of the country’s currently only source of natural gas fuel.
Oil and gas exploration firm PXP Energy has halted its activities in both service contracts 75 and 72 that are located near the West Philippine Sea.
As of August last year, the Department of Energy identified at least six LNG terminal projects being developed by the private sector, namely, Excelerate Energy L.P., Atlantic Gulf & Pacific (AG&P) Company of Manila Inc., Shell Energy Philippines Inc., Vires Energy Corp., FGen LNG Corp. and Energy World Gas Operations Philippines Inc.
Of the six projects, DOE said two are still on track to be completed this year, which would be those from AG&P and FGEN LNG that are both located in Batangas.
Source:https://malaya.com.ph/news_business/build-lng-terminals-now/
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