The Push for Senate Approval of the Philippine Downstream Natural Gas Industry Development Act
The push for Senate approval of the Philippine Downstream Natural Gas Industry Development Act is gaining momentum as members of the House of Representatives rally behind the bill. Led by Albay 2nd District Representative Joey Salceda, the proponents of the legislation are urging the Senate to take swift action and pass the bill before the upcoming midterms. Salceda, who authored the bill, emphasized its priority status and highlighted its alignment with the version currently under deliberation in the Senate.
Environmental Benefits of Natural Gas
One of the key reasons for the urgency in passing this bill is the environmental benefits associated with natural gas. Salceda pointed out that natural gas emits significantly fewer emissions compared to coal when used for power generation. With the global push for cleaner energy sources, transitioning from coal to natural gas can be a crucial step in reducing greenhouse gas emissions and mitigating climate change. Salceda also stressed the need for comprehensive legislation that addresses methane emissions, a significant concern associated with natural gas production and transportation.
Reducing Dependence on Imported Fuel
In addition to its environmental advantages, the bill also aims to reduce the country’s dependence on imported fuel. Salceda highlighted the importance of establishing a regulatory framework and complementary infrastructure to support a robust and sustainable natural gas industry. By developing a full value chain for the natural gas sector, the Philippines can tap into its own resources and enhance energy security.
Positioning the Philippines as a Hub for LNG Trading and Transshipment
Marinduque Representative Lord Allan Velasco, the Chairman of the House Committee on Energy and another author of the bill, emphasized the potential of the legislation to position the Philippines as a hub for liquefied natural gas (LNG) trading and transshipment in the Asia Pacific region. Velasco echoed Salceda’s sentiments regarding the need for clear and integrated policies to attract foreign investors and fully develop the country’s natural gas potentials.
The Senate Bill and Alignment with the House Version
Meanwhile, in the Senate, Senator Raffy Tulfo filed Senate Bill (SB) 2247, which shares the same objectives as the House version. The bill aims to support the development of new wells to address the depletion of the Malampaya gas field, which has been a significant source of natural gas for the country. The technical working group reviewing SB 2247 is expected to work closely with the House counterparts to ensure a smooth alignment between the two versions.
The Significance of the Philippine Downstream Natural Gas Industry Development Act
Overall, the passage of the Philippine Downstream Natural Gas Industry Development Act would be a significant milestone for the country. By prioritizing the development of the natural gas sector, the Philippines can diversify its energy sources, reduce greenhouse gas emissions, enhance energy security, and attract foreign investments. The bill not only addresses immediate concerns but also positions the country as a regional leader in LNG trading and transshipment. With the support of both the House and the Senate, the prospects for the bill’s enactment are promising, bringing the Philippines one step closer to a sustainable and thriving natural gas industry.
Source: The Manila Times
