“The Philippine government has been fostering a conducive business environment to attract investments in renewable energy projects”In the Philippines, a consistent and affordable power supply underpins all the vital sectors of the economic spectrum like manufacturing, public transportation, and healthcare.
The Malampaya gas field, the country’s only indigenous source of natural gas, currently supplies about 12 percent of Luzon’s dependable capacity, powering four major power plants with a total 2,081 MW. Driven by technological improvements, large-scale investments, and supportive policies, the long-term outlook of experts remains positive with continued decreases in costs.
The DOE views natural gas as a supportive technology for renewable energy, monitoring seven LNG facility projects, two of which are nearing completion. As the Philippines emerges as a growing LNG market, there will be opportunities for technology transfer and enhanced trade relations.Reliable electricity ensures smooth business operations, reducing downtime and increasing output.
The integration of LNG with existing fossil fueled and renewable energy sources offers a balanced approach to the country’s energy transition in alignment with the global aspiration towards zero carbon emissions.