President Ferdinand R. Marcos Jr. has recently approved a new law aimed at fostering the growth of the natural gas industry in the Philippines. The legislation, known as Republic Act 12120 or the Philippine Natural Gas Industry Development Act, was signed on January 8 and made public through the Official Gazette on Tuesday. This act is designed to enhance the role of natural gas in the nation’s energy portfolio, promoting it as a reliable, efficient, and economical energy source that bolsters energy security. The law also introduces incentives to attract investments by fostering a competitive, transparent, and fair trading environment, aligning with the objectives of the Department of Energy Act of 1992 to achieve affordable energy prices. Furthermore, the legislation aims to position the Philippines as a key hub for Liquefied Natural Gas (LNG) trading and transshipment in the Asia-Pacific region, responding to the growing domestic fuel demand. Under Marcos’s leadership, the government is also pushing for a greater emphasis on renewable energy. Senator Pia Cayetano, who played a pivotal role in the Senate’s passage of the bill, praised the President’s action as a crucial move towards energy security. She emphasized that the law would help stabilize energy costs and reduce reliance on volatile imported energy sources, thereby enhancing the nation’s resilience against global energy disruptions and meeting future energy needs.
President Marcos Signs Law to Boost Philippine Natural Gas Sector
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