The Center for Energy, Ecology, and Development (CEED), a sustainability think tank, has cast doubt to the viability of the Philippines plan to use liquefied natural gas (LNG) to solve the current power problem.
In a statement, the CEED leadership foresees more problem in using LNG to solve the power cost and security issues confronting the country. The Russian and Ukraine war has made global LNG supply light and volatile because of the long-term contracts (sales) have been signed and effective for the next couple of years. Further, prices of LNG on stock in the Philippines could be prohibitive due to low supply entering the country. LNG while it promises as a source of electricity, but its high cost is too prohibitive to the “common tao”.
Of the seven LNG terminal projects approved by the Department of Energy (DOE), AG&P has received already notice of delivery of imported LNG. The other terminal projects include FGEN LNG Corp., Energy World Gas Operations Philippines, Inc., Excelerate Energy L. P., Vires Energy Corp., Shell Energy Philippines Inc., and Samat LNG Corp.
Further, the think Tank group suggest that the Philippines tap renewable energy from wind sources, readily available and much cheaper. Per report published, under the Green Energy Auction Program (CEAP) prices of as low as P3.40 PER Kwh was recorded in 2022. Also, a new round of auctions in June 20223 would allow over 11,600 MW of new renewable energy capacity in the coming years.
MY COMMENT:
The think tank CEED’s suggestion of tapping renewable energy from wind is well taken instead of LNG. It advantages are stated earlier. The Marcos Administration should heed the CEED’s well thought of idea, energy sustainability-wise.
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