To promote fuel diversification for energy stability and affordability, Philippine Department of Energy Secretary Alfonso G. Cusi presented the liquefied natural gas (LNG) roadmap of the country on Thursday (24 November) during the LNG Producer-Consumer Conference 2016 in Japan.
“As an emerging LNG market in Asia, my country, the Philippines can take advantage of the current period of oversupply and the relatively low prices of LNG,” said Cusi in his Keynote Address for the third Session of the said forum.
The Energy Secretary said that currently the Philippines had only Malampaya Gas Field, where 98% of its total production is used for power generation supplying fuel to five natural gas plants in Batangas, namely Ilijan, Sta. Rita, San Lorenzo, San Gabriel and Avion with a total installed capacity of 3,211 megawatts (MW) providing the electricity requirement of Luzon and even the Visayas.
As the country prepares for the depletion of Malampaya’s supply by mid-2020s, Cusi also provided the natural gas project prospects in the country for the Japanese and other international investors to develop which includes –LNG importation, off-grid or missionary islands conversion to natgas power plants and even non-power applications, such as in transportation.
Weighing the technology-resource efficiency, Cusi explained that “LNG can provide the demand from baseload, mid-merit and peaking requirements and can compete with other fuel sources that can address the least-cost optimal electricity from such demand centers.”
Through this forum, Cusi encouraged the international community to tighten partnerships in further developing and promoting the LNG industry, especially in the Philippines.
Supported by the Ministry of Economy, Trade and Industry of Japan, the LNG Producer-Consumer Conference has been held every year since 2012 to further promote a shared understanding and cooperation between producers and consumers.
This year, it was co-hosted by the Asia-Pacific Energy Research Centre (APERC) with over 50 countries and regions participated, bringing together ministers, senior officials and relevant company executives from LNG producing-consuming countries.
LNG MOVERS: Energy Secretary Alfonso G. Cusi (lower, center) together with Ministers and Industry Experts attended on Thursday (24 November) the LNG Producer-Consumer Conference 2016 in Japan to promote fuel diversification and encourage the development of the LNG industry.