MANILA - Indonesia's PT Pertamina is planning to invest around US$1 billion in the Philippines, the Department of Trade and Industry (DTI) chief said Wednesday.

DTI Secretary Ramon Lopez said Pertamina, which is Indonesia's second-largest crude oil producer, is interested in developing the country's liquefied natural gas (LNG) industry.

Pertamina is set to meet with the Board of Investments, Department of Energy, and Energy Regulatory Commission so that it can be aligned with the country's plans and policies on energy and investment, Lopez said.

“The Philippines is very much open for LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” Lopez added.