00:00The government's priority now is to strengthen natural gas in the country.
00:04It also follows that Malampaya Gas Field is expected to run out in 2027.
00:08On December 8, 2024, President Ferdinand R. Marquez Jr. passed the Republic Act No. 12120 or Philippine Natural Gas Industry Development Act.
00:17It aims to become a transshipment hub or to import liquefied petroleum gas or LPG to the Philippines in Asia Pacific and not to be exported to other countries.
00:26Under this law, the target of the Philippines is to increase renewable energy by 30% in 2030 and 50% in 2040 from the current 22%.
00:37The Department of Energy is also ordered to study, approve or issue permits to all gas facilities from local and foreign businessmen.
