Philippines, Man Energy sign LNG MoU
Philippines' department of energy (DoE) has signed a memorandum of understanding (MoU) with Germany’s Man Energy Solutions to develop small and medium-scale LNG solutions in the southeast Asian nation, the DOE said in a February 27 statement.
The MoU provides for the conduct of a feasibility study on the development of small and medium-scale LNG importation and regasification to power projects in Visayas and Mindanao.
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“We have always been very vocal about our desire to fully develop the downstream natural gas industry of the Philippines,” said energy secretary Alfonso Cusi.
“Studies such as the one that Man Energy would be conducting contribute to this goal, given that the ability of our natural gas industry to reach maturity depends on the development of the necessary infrastructure such as LNG receiving terminals, gas transmission and distribution pipeline networks, and other ancillary facilities,” he added.
Cusi said that should the findings of the feasibility report be favourable, it would pave the way for the entry of much-needed capital investments in Visayas and Mindanao.
“If not, the report’s results will still help guide us in recalibrating our strategic direction. So regardless of the study’s outcome, we are optimistic that our partnership would go a long way in helping make our natural gas aspirations a reality,” Cusi said.