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Manila Bulletin devider Business devider Trade & Industry devider Abu Dhabi's Masdar targets Philippine clean energy, strategic oil reserve deals

Abu Dhabi's Masdar targets Philippine clean energy, strategic oil reserve deals

Published Aug 13, 2026 03:36 pm
Abu Dhabi Future Energy Co., known as Masdar, is evaluating potential investments in clean power projects and exploring participation in a nationwide fuel stockpiling program in the Philippines.
Energy Secretary Sharon Garin told reporters on Thursday, Aug. 13, that the United Arab Emirates state-backed company met with Department of Energy (DOE) officials to map out possible partnerships.
Garin said the discussions focused on expanding renewable energy generation in Mindanao alongside potential commercial crude oil storage arrangements.
“As far as I know, they’ve been looking around, and I think they’ll look into different kinds of projects that they can enter in,” Garin said.
While specific contractual structures remain confidential, the energy chief confirmed that the outreach covers clean energy developments and sustainable infrastructure assets.
Masdar currently maintains a portfolio of approximately 65 gigawatts of operating and pipeline capacity across 40 nations, with holdings in solar, wind, battery storage, waste-to-energy, geothermal facilities, and green hydrogen technologies.
The UAE company’s interest aligns with the country’s broader push to build up national strategic fuel reserves. Under the proposed framework, Middle Eastern energy producers could utilize Philippine storage infrastructure as a regional hub, allowing international firms to lease local capacity while bolstering domestic fuel availability.
A single storage facility capable of holding 500,000 barrels carries an estimated cost of approximately ₱5 billion.
“They’re willing to store their crude oil, for example, in the Philippines,” Garin explained. “So they can look for storage facilities, bring in the product [here], or they can invest in the infrastructure.”
The DOE is pursuing the petroleum program in coordination with state-owned Philippine National Oil Co. (PNOC) and the Maharlika Investment Corp.
Garin has set a deadline for partners to complete the construction of an initial oil storage facility by June 2028, with plans to sequentially add storage units in subsequent years.
The national stockpiling initiative is also receiving technical support from Japan’s Ministry of Economy, Trade and Industry (METI).
Japanese officials and local energy agencies are collaborating on feasibility studies and administrative rules aimed at building a robust national reserve system while laying the groundwork for a broader Association of Southeast Asian Nations (ASEAN) joint stockpiling framework.

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DOE United Arab Emirates (UAE) renewable energy (RE)
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