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Natural Gas Reserves in Philippines
- By Oil and Gas Author
- Published 08/28/2006
- Petroleum Pipeline , Offshore Drilling , Oil and Natural Gas Prices , Oil Gas Companies , Subsea Oil Production , Liquefied Natural Gas LNG , Exploration and Discoveries , Natural Gas Petroleum , Crude Oil Petroleum
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Oil and Gas Author
Oil and Gas Articles features up-to-date, searchable oil and natural gas industry articles, online oil and gas publication service, and a full-text article database covering all areas of the oil and gas industry.
View all articles by Oil and Gas AuthorExploration continues is other parts of the country, but no major discoveries have been reported. Three small Natural Gas fields were closed down in 2001. Fields in the Tukankuden and the Cotabato Basin were shut down due to security problems, while another field in Victoria, Tarlac, was closed because the natural gas discovered was too saturated with water for commercial production.
The Philippine government is developing a policy framework for the countrys emerging natural gas industry that foresees the governments role as that of facilitator. Domestic development is to be encouraged, but competition from imported gas also is to be allowed. Gas supply to wholesale markets will have market-set prices, while prices for captive markets and small consumers will be regulated.
Liquefied natural gas (LNG) has begun to receive added attention as a potential source of natural gas supplies. PNOC has been considering the construction of an LNG regasification terminal in Bataan, which would serve the Manila area. A letter of intent has been signed for natural gas imports into the Philippines from BPs Tangguh LNG project in Indonesia, but no binding contract has been signed.
A pilot program began in mid-2004 for the use of natural gas as a transportation fuel in the Manila area. Four bus companies have vehicles running on compressed natural gas (CNG).
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