Philippines Announces Major Natural Gas Discovery, Reducing Coal Reliance

The Philippines has made a “significant natural gas discovery” for the first time in over a decade, President Ferdinand Marcos Jr. said, in a move that may help reduce the nation’s reliance on coal for fuel. The discovered reservoir in Malampaya East-1, near the existing Malampaya gas field, is estimated to contain around 98 billion cubic feet of gas, equivalent to almost 14 billion kilowatt hours of electricity per year, Marcos said in a video message on Monday. That can supply power to more than 5.7 million households in a year, he adds.