The passage into law of the proposed Natural Gas Industry Development Act would keep the drilling of new gas wells on track.
Prime Energy also pointed out that the proposed legislation under Senate Bill No. 152 would protect consumer rights by encouraging transparency and competition in the gas industry.President Ferdinand “Bongbong” Marcos Jr. had approved the renewal of Service Contract 38 for Malampaya and ordered the extension of the project for 15 years or until Feb. 22, 2039.Earlier, the Department of Budget and Management had told Congress that the government is expected to receive in 2024 about P13.
“While we are doing that, we need the LNG bill in order to allow all parties who are importing gas, or in our case -- our proposal to also blend imported LNG with indigenous gas -- to do this in a very organized way to protect consumers,” she added.
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