Companies are scrambling to build liquefied natural gas (LNG) terminals in the Philippines, as the country's Malampaya gas field is set to be depleted by 2022 or 2023. By Tim Daiss for Oilprice.com The Philippines has a long history of LNG development and was one of the first countries to sign an agreement with China for its own offshore facilities. Both facilities could give Japan outlets for its surplus LNG, but analysts warned regulatory and financing hurdles in the Philippines, as well as corruption, could hinder the projects.
Companies are scrambling to build liquefied natural gas (LNG) terminals in the Philippines, as the country's Malampaya gas field is set to be depleted by 2022 or 2023. The Philippines has a long history of LNG development and was one of the first countries to sign an agreement with China for its own offshore facilities. Both facilities could give Japan outlets for its surplus LNG, but analysts warned regulatory and financing hurdles in the Philippines, as well as corruption, could hinder the projects.