Malampaya to lower LPG prices in 3 years—PNOC-EC

Jacinto V. Paras, chairman of the Philippine National Oil Company Exploration Corporation (PNOC-EC) hopes for the lowering of prices of cooking gas, in three years, if the Malampaya project succeeds.

Jacinto V. Paras, chairman of the Philippine National Oil Company Exploration Corporation (PNOC-EC) hopes for the lowering of prices of cooking gas, in three years, if the Malampaya project succeeds.

MANILA, Philippines – The natural gas reserves discovered in Malampaya, northern Palawan, can be expected to lower prices of liquefied petroleum gas (LPG) in three years, the chairman of the Philippine National Oil Company Exploration Corporation (PNOC-EC) said.

Appearing at the Daungan ng Balita Media Forum at the Danarra Hotel in Quezon City, Thursday, PNOC-EC chairman Jacinto Paras said the state-run firm and the Department of Energy (DOE) will plot a pipeline connecting the Malampaya site to a gas processing plant in Mabini, Batangas, then to Manila.

If the project succeeds, Filipinos will enjoy much lower prices of cooking gas, Paras said.

The country remains dependent on imported LPG.

Paras also said the DOE is now “courting” investors to fund the project. (Dateline Philippines)