MANILA, Philippines - The United Kingdom (UK) is pushing for the use of liquefied natural gas (LNG) as an energy source in the Philippines to ensure supply and attract more investors here.
UK Ambassador to the Philippines Asif Anwar Ahmad told reporters, the UK government supports the use of LNG in the Philippines as such would allow the country to get more investors to come here.
“We are (pushing for LNG) because we recognize firstly that without assured energy supply here, it is very difficult to bring more British investors here,” he said.
For LNG to become part of the country’s energy sources and encourage more players to engage in that business, the government would have to come up with a policy.
“We want the policy, policy and framework that the pricing regime for gas versus any other forms of energy will remain competitive,” Ahmad said.
He added that the government should also provide certainty to players that may want to engage in the LNG business to ensure that they will not be asked to move their operations by the host local government units.
“We want what every business should enjoy everywhere they operate which is certainty that their business model is something the host government will accept. It is not something new. Everywhere in the world, including the UK has to make sure the business environment is attractive,” he said.
The Department of Energy has yet to finalize its fuel policy mix.
Some firms have expressed interest to develop LNG terminals in the country.
Among these firms is Pilipinas Shell Petroleum Corp. which wants to put up an LNG terminal beside its refinery in Batangas.
The terminal, which has an estimated cost of $1 billion, will have a capacity of up to 5,000 megawatts.
Other firms which have also expressed interest in the LNG business are First Gen. Corp. and Manila Electric Co.