The Philippine Energy Secretary has said four LNG import terminal projects worth about $1.34 billion, which are at various stages of approval or financial closure, are still on track despite “minor delays” due to the pandemic.
The Southeast Asian country will need to import liquefied natural gas to feed existing power plants, with a combined capacity of about 3,200 megawatts as the Malampaya gas field in western Philippine waters is expected to run dry.
While Malampaya supply may last up to 2027, current reserves are not enough for the planned expansion of LNG usage into industrial, commercial, residential and transport sectors.
For more information visit www.doe.gov.ph
28th September 2020
