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Manila Bulletin devider Philippines devider National devider Marcos inks Philippine Natural Gas Industry Act

Marcos inks Philippine Natural Gas Industry Act

Published Jan 15, 2025 07:54 am

President Marcos has signed the Philippine Natural Gas Industry Act.

BBM Magna Carta of Filipino Seafarers IRR signing.jpg
President Ferdinand 'Bongbong' Marcos Jr. (MANILA BULLETIN | Mark Balmores)

Marcos has inked Republic Act No. 12120 or an Act Promoting the Development of the Philippine National Gas Industry.

Under the law, the government must promote as a safe, efficient, and cost-effective source of energy, as well as develop it as a reliable fuel for power plants.

The law stated that the State shall "promote natural gas as a safe, efficient, and cost-effective source of energy and an indispensable contributor to energy security by establishing the Philippine Downstream Natural Gas Industry (PDNGI) for the benefit of all segments of the nation's population and all sectors of the economy."

The government shall also "develop natural gas as a reliable fuel for power plants capable of addressing the peaking, mid-merit, and baseload demand of the country to help achieve energy security, while progressively transitioning to renewable energy sources."

The law further directs the promotion of natural gas as an energy fuel, with the potential to meet the increasing local demand for fuel, and develop the Philippines as a Liquefied Natural Gas (LNG) trading and transshipment hub within the Asia-Pacific Region.

The State shall also ensure the safe, secure, reliable, transparent, competitive, and environmentally responsible operation of the PDNGI value chain, and ensure alignment with the State's policy on transitioning to a low-carbon future.

Furthermore, the government must also promote the conversion of existing fossil fuel-operated equipment and facilities to natural gas use, provided that the conversion is technically and financially feasible.

The State shall also facilitate the development of power and non-power end-uses of natural gas which includes commercial, industrial, residential, and transport applications that promote fuel diversity.

The law also authorized the government to promote and hasten the exploration and development of indigenous natural gas resources and facilities, and prioritize the use of indigenous over imported natural gas to help attain greater energy security without impairment of contracts.

Under the law, the entry of investors under a system of competition, transparency and fair trade shall also be encouraged.

A legal and regulatory framework shall also be created to govern the promotion and development of the PDNGI.

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