Flash News
Mail RSS
Quezon Province
Loading...

Ph now open for natural gas investors — Cusi

TAGUIG CITY – Department of Energy (DOE) Secretary Alfonso G. Cusi today signed a Memorandum of Agreement (MOA) with the UP Statistical Center Research Foundation, Inc. (UPSCRFI) on the implementation of the Philippine Downstream Natural Gas Regulation (PDNGR).

He asaid, “Projects like this, which help develop the country’s LNG industry, will bring us closer to attaining our energy goals in the midst of Malampaya’s forthcoming depletion and our ever growing energy demand. The county is open for business. The DOE is ready for business.” He stressed the signing of the MOA is a major step in pushing the efficient and effective regulation of the country’s downstream natural gas industry.

Meanwhile, in his opening remarks, Senator Sherwin Gatchalian enumerated reasons supporting the development of the country’s LNG market. These include Malampaya’s depletion and other energy security issues, the relevance of the Paris Agreement reached at the 21st Conference of Parties (COP21), the adoption of renewable energy (RE) sources in the power supply mix, and the country’s availability for investors.

DOE Undersecretary Donato D. Marcos, on the other hand, presented emerging policies and challenges of the country’s natural gas industry, during which he highlighted the necessity and potential demand of LNG importation.

Aligned with the DOE’s goal to fast-track the establishment of a distributing and receiving LNG facility, the Gas Policy Development Project (GPDP) will provide technical assistance to DOE in implementing Department Circular No. 2017-11-2012, or the PDNGR. DOE Assistant Secretary Leonido Pulido III concluded the program by extending the DOE’s gratitude and enthusiasm in working with its partners from the academe.

Also present at the launching were DOE Assistant Secretary Caron E. Lascano, US Embassy Deputy Chief of Mission John Law, UPSCRFI President Dr. Gervacio Selda Jr., Senior Attorney for Energy and Finance Atty. Mohamed Rali Badissy, GPDP Project Director Dr. Ramon Clarete, United States Department of State Senior Foreign Assistance Planning Officer Levi White, other DOE officials and energy stakeholders.