First Gen Corporation (FGen), the Lopez-led renewable energy firm, announced on Tuesday that efforts to supplement the Malampaya gas field are ongoing, but not through a fixed process.

During the 4th Philippine Natural Gas Investment Summit, Vincent Villegas, FGen's senior vice president and chief revenue officer, explained that the company's liquefied natural gas (LNG) deliveries depend on prevailing market prices, with cargo costs fluctuating based on gas price variations.

When asked about the cost of supplementary LNG, Villegas stated, "It's in the tens of millions of dollars, depending on the price, because we're buying from the spot market."

In September, FGen awarded a cargo contract to Singaporean firm Shell Eastern Trading Pte., Ltd. for LNG deliveries, which were completed in October.

Villegas emphasized that these deliveries are demand-driven, precluding the need for long-term delivery plans. 
“Because we’re supplementing Malampaya. That’s why earlier, we said that if it’s from the spot market, you just call it when you need it. If you have a contract, say five cargoes in a year, the seller will say ‘tell me the delivery dates’ and we have to consume it by the time the next cargo comes in, we must empty the tank,” he explained.

Villegas added that FGen doesn't anticipate further LNG imports currently but will continue supplementing Malampaya's declining production until new wells come online.

In August, Senate Committee on Energy Chair Pia Cayetano expressed hope that two new gas wells planned for development next year would yield immediate results. She also encouraged private firms to explore more natural gas sites and prioritize indigenous resources over imported and conventional fuels.