The Philippines should devote more resources into developing the natural gas sector as an environmentally sustainable means of fueling the growth of the economy.
United Arab Emirates (UAE), one of the world’s wealthiest countries, is looking for investment opportunities in the Philippines and has also invited Filipino businessmen to come to UAE to look at opportunities there.
A platform of the Malampaya Deep Water Gas-to-Power Project off Palawan province is to be installed next year to maintain fuel supply to power plants providing about half of Luzon’s electricity needs. The platform, worth $756 million (P33.68 billion), is part of Phase 3 of the Malampaya project.
The initial report commissioned for the 25-year Philippine natural gas master plan has only just come out, but the Department of Energy (DOE) said the full roadmap to a local gas market could be completed early this year.
First Gen Corp., through subsidiary First NatGas Power Corp., inked engineering and procurement as well as operations and maintenance deals with the Siemens group for the first of the three units of the $600-million San Gabriel combined cycle natural gas-fired power plant project.
