LNG

LNG imports to the Philippines are forecast to jump 508% through to 2029, spurred by the fast-depleting Malampaya field which forces gas power plant operators to source fuel from abroad. Projections from the Philippine Energy Plan (PEP) show the transition to LNG could cost $3.9 billion (PHP218 bn) over the next four years.

The Philippines is gradually increasing its activities in the liquefied natural gas trading and tender market with the Singapore-based unit of commodities firm Trafigura winning the latest Filipino cargo tender.

The Philippines, the newest liquefied natural gas importing nation, has held talks with the Japan Bank for International Cooperation and said the JBIC had expressed interest in energy joint ventures.