The Senate yesterday passed on third reading a measure that supports the comprehensive development of the Philippine natural gas industry in a bid to achieve energy security and sustainable economic growth.
Senate Bill No. 2793, known as the Philippine Natural Gas Industry Development Act, establishes a legal framework designed to promote the development of the natural gas industry, covering aspects from transmission and distribution, to the supply of natural gas.
“This is a momentous step forward as we strive to achieve energy security and sustainable economic growth. This legislation supports our own and also international commitments to cleaner, more efficient energy production,” said Senator Pia Cayetano, chair of the Senate committee on energy and sponsor of the bill.
The measure aims to accelerate the exploration and development of domestic natural gas resources and facilities, prioritizing the use of indigenous over imported natural gas to enhance energy security.
Cayetano said SB 2793 also “protects consumer welfare because encouraging more investments in natural gas will enhance energy security.”
“Historically, indigenous natural gas has been cheaper, and increasing opportunities for natural gas will only make the prices cheaper,” she said.
“We are looking forward to seeing the benefits of this measure, not tomorrow or by the end of the year, because energy security is a generational commitment. This is for the next generation. We hope to live healthy lives to witness the benefits of this measure,” she added.
The senator said the passage of the measure would ensure the country’s supply and ease dependence on imported natural gas.
“This bill is good for the country. This bill is good for the environment. And this bill is good for the Filipino consumers,” Cayetano said.
Senator Raffy Tulfo, for his part, said relying on foreign energy sources is not a viable strategy for achieving energy security.
He said the country should not rely on “luck and external circumstances” to ensure its essential services, economic infrastructure, and continuity of business operations.
“We’ve observed this in other countries that are overly dependent on foreign energy sources, including some of our neighbors in Southeast Asia. The Natural Gas Act provides sufficient incentives for private entities to develop indigenous resources and ensure total independence from foreign energy,” Tulfo said.
