The Daily Tribune
Prime Energy backs natgas expansion
Prime Energy is driving Philippine energy independence by expanding the Malampaya project, emphasizing the crucial role of indigenous natural gas in the country's energy transition.
President and CEO Donnabel Kuizon Cruz highlighted that Filipino gas can serve as a unifying force for the industry and benefit Filipinos.
Indigenous gas production is vital for stabilizing electricity prices and ensuring the reliability of supply, while also supporting renewable energy targets.
The Malampaya project, in operation since 2001, has significantly contributed to Luzon's energy needs and generated substantial revenue for the Philippine government.
The Malampaya Phase 4 project, a $893 million initiative, marks the largest upstream investment in the Philippines in over a decade, with exploration activities now resumed.
Prime Energy and its partners, including PNOC Exploration Corporation, are spearheading this expansion under the guidance of the Department of Energy.
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