Only 29 pct of liquefied natural gas projects in PH viable: energy think tank

ABS-CBN News

Posted at Dec 23 2021 03:06 PM

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MANILA - Only 29 percent of the liquefied natural gas projects in the Philippines are viable as there is not enough demand for LNG in the country, an energy think tank said on Thursday. 

Sam Reynolds, energy analyst at the Institute for Energy Economics and Financial Analysis, told ANC that while the official estimate for LNG needed for power generation in the country is 3-4 million tons per year, the pipeline of proposed LNG terminal projects is nearly 20 million tons per year. 

The LNG terminals are supposed to ensure supply of the fuel for the country’s power plants when the Malampaya gas field eventually runs dry. But Reynolds cautioned on betting on LNG as the fuel’s cost is very volatile, and renewable energy is looking to be cheaper.