MANILA, Philippines — The Philippine government is currently in talks with the Japanese government and investors to supply liquefied natural gas ahead of the depletion of the Southeast Asian nation’s key local gas reserves. The Philippine government earlier announced its plan to build an LNG terminal estimated to cost P100 billion to replace the Malampaya natural gas reserves off Palawan province, which is expected to diminish by 2024. READ: PNOC mulls bidding for $2-B LNG terminalThe Malampaya gas field supplies up to 50 percent of the energy requirements for Luzon, the country’s largest island and home to the capital Manila. “For the medium term, we are upgrading or rehabilitating the Agus power plants. And we have sought financing — ODA financing — from China to implement the said power plants in Mindanao,” Dominguez said.

Source: Philippine Star December 26, 2017 09:11 UTC