The Institute for Energy Economics and Financial Analysis (IEEFA) has alerted that the Philippines is very likely to face liquefied natural gas (LNG) supply uncertainty along with inflating prices over the next few years. This is despite the launch of planned LNG terminals scheduled in early 2023.
Key terminal projects of FGen LNG Corporation and Atlantic Gulf & Pacific (AG&P) will be delayed from their planned opening in 2023 due to the volatile international natural gas markets.
Only modest new LNG supply capacity is expected to come online in 2026. The agency has recommended speeding up the development of renewable energy (RE) projects in the Philippines as a cheaper alternative source to LNG and coal
By December 2021, Philippines Department of Energy (DOE) had approved six LNG terminal and re-gasification projects, which are expected to commence operations between 2023 and 2025.