The Philippines said it will turn to natural gas in its energy mix to increase the share to a third over the next 16 years which would open doors for LNG imports.
This new market would be welcomed by the major LNG producers such as Chevron and Total who face uncertainty over long-term demand from Japan and South Korea.
Because of the country’s commitment to low carbon emissions, natural gas will increase to more than 30 percent of the mix, according to Energy Undersecretary Zenaida Monsada, reports Reuters.
The country is set to start using imported gas to fuel energy producers in 2015 once the LNG hub in Pagbilao province opens.
LNG World News Staff, October 1, 2014; Image: EWC