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'Indigenous gas devt bedrock of energy future'

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PRIME Energy Resources Development (Prime Energy) said that indigenous gas development must remain an integral part of the Philippine energy policy to attain national energy security.

PRIME Energy Resources Development said that indigenous gas development must remain an integral part of the Philippine energy policy to attain national energy security.Donnabel Kuizon Cruz, Prime Energy managing director and general manager, stressed the importance of 'synergy' of imported LNG and indigenous gas to create power supply reliability and affordability during a panel discussion on 'Fostering Growth in the Natural Gas Sector.

Cruz said that indigenous gas helps stabilize electricity prices, as witnessed during times of international conflict, like the war between Russia and Ukraine, which triggered upward spikes in LNG prices.'Had there not been Malampaya gas during that time, Filipinos would have paid, on average, P25 per kilowatt hour in fuel costs for using LNG, compared to only P6 per kilowatt hour for using Malampaya,' she said.'By using LNG, we became more vulnerable to market shocks.

 

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