Philippines, Japan ink energy security pact

The Philippines and Japan have signed a Memorandum of Cooperation (MoC) to strengthen their partnership in energy security, low-carbon development, and technology exchange.

The Energy Partnership agreement was officially signed on October 17 by Philippine Energy Secretary Sharon S. Garin and Japanese Minister of Economy, Trade and Industry Muto Yoji.

Energy Secretary Garin highlighted that this partnership is a crucial long-term investment towards a sustainable future, demonstrating a strong commitment to tackling climate change and developing a resilient energy sector.

Through this MoC, both nations will engage in capacity building, policy discussions, and collaborative pilot projects focusing on renewable energy, grid integration, energy storage, hydrogen, ammonia, liquefied natural gas (LNG), and carbon capture, utilization, and storage (CCUS).

Japan will provide support for this initiative through the Asia Energy Transition Initiative, offering financial and technological assistance for decarbonization projects in the region.

The agreement will take effect immediately and remain in force for a period of four years, subject to extension by mutual consent.

The Philippines' Energy Policy and Planning Bureau and Japan's Agency for Natural Resources and Energy will serve as the principal coordinating bodies for implementation.