PT Pertamina, the second-largest crude oil producer in Indonesia, expressed interest to take part in the development of liquefied natural gas in the Philippines through a regasification hub project worth $1 billion.
“More investors, in different industries like PT Pertamina, have expressed their confidence in the country’s economic stability and business environment. They wish to partner with us in creating a more comfortable life for every Filipino through various opportunities,” said Trade Secretary Ramon Lopez.
PT Pertamina corporate marketing director Basuki Trikora Putra said the company was ready to offer its integrated LNG solutions by investing in floating storage regasification unit or land-based LNG regasification and provide competitive LNG supply.
Lopez, in a meeting Tuesday with the company’s executives, shared the growing energy landscape in the Philippines and the government’s position on renewable energy sources.
“The Philippines is very much open for LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” he said.
PT Pertamina is a state-owned national energy company of Indonesia, owning six refineries in their country with combined production capacity of 1 million barrels of oil a day.
“Having a long experience as one of the world leading LNG global players, we would like to share the same experience in the Philippines. We are really keen to invest in the Philippines,” Putra said.
The company is also set to meet with the Board of Investments, Energy Department and Energy Regulatory Commission to be aligned with the Philippines’ plans and policies on energy and investment.
This is the first visit of PT Pertamina in Philippines.