Industry players in the emerging liquefied natural gas industry are seeking more incentives to help ensure the development and sustainability of the natural gas sector.
Industry players raised their proposals for incentives to the LNG industry during the Senate committee energy hearing on Senate Bill No. 1819, or the Midstream Natural Gas Industry Development Act.
First Gen Corp. vice president Jerome Cainglet said the company submitted in June last year the proposed incentives or industry stimuli which were not reflected in the draft bill.
“We are hoping that the committee would reconsider and take these in consideration which we strongly believe would stimulate the development of the industry,” Cainglet said.
He said that when the Malampaya gas project was being developed in the 1990s, offtake agreements were put in place to ensure power plants would be able to sell the electricity so that they could meet commitments for the Malampaya development.