LNG

Though the Department of Energy (DOE) reckons the Philippines two new LNG terminals will have “no problem in securing supply” once opened in March and April, analysts revised down the country’s LNG imports. High global gas prices are pressuring utilities to use less LNG for power generation, as higher renewables and coal generation suffices to meet demand.

The Government of the Philippines said it was still open to global energy company investors interested in exploration and production ventures in its offshore waters for domestic natural gas to supplement LNG imports amid the extension of the gas-to-power agreement linked to the Malampaya gas field.