Pia Cayetano: Natural Gas Bill to Boost Investor Confidence in PH

Senator Pia Cayetano stated that the proposed Philippine Natural Gas Development Act, which supports the full development of the country’s natural gas industry, is expected to enhance investor confidence in the Philippines.

Cayetano, who chairs the Senate Committee on Energy, has formally endorsed the passage of Senate Bill No. 2793. She urged her fellow senators to act swiftly on the bill, emphasizing that it prioritizes the use of indigenous natural gas over imported liquefied natural gas (LNG) and other conventional fuels for power generation.

“This bill provides for the prioritization of indigenous gas over other imported LNG and other conventional fuels in terms of use and the production of power,” Cayetano said. She highlighted that relying on Filipino gas would reduce the country’s dependence on foreign suppliers, thereby enhancing energy security and sovereignty.

The proposed measure builds on policies already enshrined in the Electric Power Industry Reform Act (EPIRA) by ensuring a market for indigenous gas, thus encouraging the development of more gas fields in the Philippines. Cayetano noted that the Malampaya gas field, which has been the only producing gas field in the country, may be depleted as early as 2027, making it crucial to explore and develop additional sources.

Additionally, Cayetano pointed out that natural gas could serve as a transitional fuel as the Philippines shifts towards full renewable energy use. “While the renewable energy industry is developing, natural gas can help decrease our dependence on imported coal and oil,” she said.