Connect with us

Hi, what are you looking for?

Economy

Private sector to take lead role in building LNG infrastructure

THE Department of Energy (DoE) said it expects the private sector to take the lead in building out the country’s liquefied natural gas (LNG) infrastructure, including terminals to receive imports, and will back efforts to “encourage” private groups to engage in such projects.

DoE Head of Public Affairs Jive Bullock told BusinessWorld via Viber Wednesday that the infrastructure needs for LNG imports include jetties, storage, regasification terminals, onshore gas processing plants and pipelines.

She gave no details on how the government intends to “stimulate” private sector participation, which in the energy industry typically involves an incentive scheme for key projects. Executive Order No. 30 from 2017, for instance, authorizes streamlined approval procedures for a category of generating assets classified as Energy Projects of National Significance.

Ms. Bullock made the remarks on LNG to BusinessWorld Wednesday.

“The DoE agrees with Senator (Sherwin T.) Gatchalian. We cannot wait for Malampaya to run out before taking action, so we are really encouraging private sector participation and interest in developing the country’s LNG industry,” Ms. Bullock said.

Developing the country’s natural gas industry, according to her, would require the construction of LNG carrier jetties, storages, regasification terminals, onshore gas processing plants and pipelines.

Mr. Gatchalian, who chairs the Senate’s energy committee, had issued a statement that in light of the impending decline of the Malampaya gas field, the Philippines’ sole domestic source of gas, it was the DoE’s mission “to encourage the private sector to build receiving terminals for imported LNG.”

“Because we haven’t discovered new sources of gas in our country, we have to resort to importing LNG just to make sure that those 3,200-megawatt gas-fired power plants keep on running,” he said, referring to the five gas-run plants that account for 20% of the Luzon grid’s installed capacity.

On Jan. 5, Mr. Gatchalian, the DoE and the Energy Regulatory Commission (ERC) participated in a Senate hearing on the proposed Midstream Natural Gas Industry Development Act, or Senate Bill No. 1819.

The measure seeks to regulate the midstream natural gas industry, covering operations such as aggregation, supply, importation, receipt, unloading, loading, processing, storage, regasification, transmission and transportation of natural gas in original or liquified form.

During the hearing, representatives from the DoE and ERC asked for more time to submit their respective agencies’ detailed comments on the proposed bill.

DoE Assistant Secretary Leonido J. Pulido III and ERC officer-in-charge for the Investigation Enforcement Division for Generation Companies Leila O. Cirio both said that they would submit their formal comments on the bill by Monday. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

The number of businesses going bust in England and Wales jumped last month to its highest level since the start of the pandemic, as...

Economy

Co-engineered with ZEISS, new vivo X70 highlights state-of-the-art mobile photography technology Global brand vivo remains top of mind when one thinks of premium imaging...

Investing

Half of the UK’s working mothers do not get the flexibility they ask for, while those that do work flexibly face discrimination, according to...

Economy

By Jenina P. Ibañez, Reporter   Money sent home by overseas Filipino workers (OFWs) increased for the seventh straight month as more host economies with...

Economy

The Bureau of Internal Revenue (BIR) clarified that only medicines and medical devices for the treatment of coronavirus disease 2019 (COVID-19) included in an updated government list...

Economy

Typhoon Kompasu has resulted in the worst container shipping traffic jam in months, one that now stretches throughout Southeast Asia and may take weeks to unravel. ...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!