Friday, August 12, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Opinion Columns

Better energy prospects

Melandrew VelascobyMelandrew Velasco
June 14, 2022, 12:00 am
in Columns, Everyman, Opinion
Reading Time: 4 mins read
A A
133
SHARES
Share on FacebookShare on TwitterShare on Email

“There is a sense of ownership to achieving national energy independence when you bring in Filipino companies to handle the reins of a critical power infrastructure and this is what Prime Infra aims to do with our participation in Malampaya”

By Melandrew T. Velasco

News that Prime Infra Holdings, Inc. will be acquiring a controlling stake in the Malampaya deep-water gas-to-power project is good news.

We know there is a need to address energy requirements for the economy to grow and develop natural gas reserves to contribute to the stability of energy supply in the country.

The entry of Prime Infra into the natural gas industry aligns with its purpose to create better lives and resilient economies through critical infrastructure coupled by its aspiration to help its customers transition to cleaner energy resources to fuel the economic growth of the Philippines.

Natural gas is dubbed as the fuel of the future. According to the website https://malampaya.com/, natural gas is composed of hydrocarbons found deep underground, or extracted through driven wells.

ADVERTISEMENT

It is formed beneath the earth’s surface over millions of years by the decomposition of organic matter, in the same way oil and coal are formed.

Natural gas is 85-90 percent methane, with varying amounts of ethane, propane, butane, and other hydrocarbon compounds.

Some condensate and oil will always be associated with the gas. In its natural state, the gas is colorless, odorless, and lighter than air.

The Malampaya deep-water gas project ushered in the natural gas industry here. It supports up to 20 percent of the country’s electricity requirements using indigenous resources of natural gas, the cleanest-burning hydrocarbon, and reduces the need for imported oil.

As a joint undertaking of the government and the private sector, it is under the Department of Energy, developed and operated by Shell Philippines Exploration B.V. (SPEX) on behalf of joint venture partners Udenna Corporation and the Philippine National Oil Company-Exploration Corporation.

Udenna Corporation’s entry into the Malampaya project has been the subject of scrutiny.

In 2001, Malampaya began its commercial operations. It has reduced the country’s dependence on oil imports and ensured a more stable supply of cleaner energy.

Phases 2 and 3 of the Malampaya project commenced in 2013 with two additional production wells installed. By 2015, Malampaya Phase 3 was completed.

By 2024, Malampaya’s service contract is set to expire. Prime Infra’s entry is critical to be able to continue operating the project while applying for an extension so it can invest in its expansion, which will sustain the economic and social benefits that Malampaya is providing for the country.

The transition of the operations of Malampaya is critically urgent. Prime Infra and Udenna, as the new operators taking over from Shell Philippines, will need to immediately plan for the expansion to ensure the continuity of the production as long as the reserves support it.

“Natural gas is a critical transition fuel and the modern, state-of-the-art infrastructure built to harness this valuable transition fuel attracted us to pursue this deal – all aspects of the project ticks off our environmental, social, and governance check list that will allow us to contribute more to the country’s transition from expensive and volatile coal and imported fuel prices to affordable cleaner and domestic energy resources like natural gas,” said Prime Infra Chairman Enrique K. Razon, Jr.

“Also, there is a sense of ownership to achieving national energy independence when you bring in Filipino companies to handle the reins of a critical power infrastructure and this is what Prime Infra aims to do with our participation in Malampaya. We will invest and sustain the development and production of domestic gas as long as the terms of the operating license and the natural resources permit,” Razon added.

Prime Infrastructure Holdings, Inc. is Filipino businessman Enrique K. Razon Jr.’s infrastructure arm established and designed specifically to focus on building infrastructure assets that support the most urgent sustainability priorities — clean and renewable energy, access to clean water, waste management, and viable critical infrastructure.

In 2020, Prime Metroline Holdings, Inc. led by Razon signed with Manila Water a subscription agreement for the acquisition of shares of Manila Water bringing in additional investments into Manila Water to pursue more projects and improve its water and wastewater services.

Udenna Corporation is optimistic about the Razon Group’s entry into the Malampaya project.

“We look forward to this opportunity to partner with Prime Infrastructure and PNOC EC, as we explore more ways to fulfill our common vision to make Malampaya sustain its capability to meet the urgent energy security needs of the Philippines,” said Udenna Corporation Chairman and CEO Dennis Uy.

By becoming a strategic investor in Malampaya, Razon has once more become a white knight.

(MTV is a book author with at least 50 titles to his credit.)

Tags: energy supplyMalampayaPrime Infra Holdings Inc.
ADVERTISEMENT
Melandrew Velasco

Melandrew Velasco

Related Posts

Buoyant economy

byManila Standard
August 12, 2022, 12:30 am
0
135
Buoyant economy

The 7.4-percent economic growth registered by the Philippines in the second quarter of 2022 is no mean feat. The economy...

Read more

Aggrieved property buyer wins case against DMCI

byLouis "Barok" Biraogo
August 12, 2022, 12:25 am
0
161
Anti-Duterte RTC judges seek appointment to CA

“...this case should be an eye-opener for anybody who buys real estate, even from big developers like DMCI” An aggrieved...

Read more

Killing Won’t End Illegal Drugs

byEmil Jurado
August 12, 2022, 12:20 am
0
145
Denying Villafuerte justice

“To me, more than anything, the rehabilitation of victims of illegal drugs, the drug users and drug addicts, could be the answer...

Read more

Imaginary university breaks PH internet

byJenny Ortuoste
August 12, 2022, 12:15 am
0
134

“What communication practitioners find amazing and should take lessons from is how the page grew its content organically from unpaid...

Read more

Amnesty

byErnesto M. Hilario
August 12, 2022, 12:10 am
0
141

"Lasting peace and sustained development are impossible in a situation where armed rebels and government troops are lunging at each...

Read more

JAZA and Fernando

byTony Lopez
August 12, 2022, 12:05 am
0
139
Trust

"The diversification enabled Ayala to unlock opportunities, develop new ideas, incubate new businesses, and explore prospects for disruptive innovation" Dapper,...

Read more

Stories you may like

  • Zubiri new Senate President, vows to uphold chamber’s independence

    Marcos sees stronger PH-India relations

    5753 shares
    Share 2301 Tweet 1438
  • Showbiz icon Cherie Gil dies at 59

    2621 shares
    Share 1048 Tweet 655
  • Fuel rollback next week, power rate cut in August

    1223 shares
    Share 489 Tweet 306
  • Appeal to BBM and Acuzar

    885 shares
    Share 354 Tweet 221
  • Morissette lends voice to powerful anthem

    650 shares
    Share 260 Tweet 163

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • Sugar import order probed
  • Marcos tells DTI to ensure cheap fertilizers for farmers
  • Another oil price rollback likely as world economy further stalls
  • LTFRB looks at ‘balanced’ higher bus rates
  • NTC questions ABS-TV5 joint venture
  • SC sets new ruling on copyrighted music
  • Number coding scheme back in NCR next week

Advertisement

Latest News

NTC questions ABS-TV5 joint venture

byManila Standard
August 12, 2022, 1:05 am
0
183

The National Telecommunications Commission (NTC) is set to review the deal that would allow ABS-CBN to broadcast its programs on...

Read more

SC sets new ruling on copyrighted music

byRey E. Requejo
August 12, 2022, 1:00 am
0
153
Omicron now dominant virus variant in US

The Supreme Court (SC) has ruled that the act of playing radio broadcasts with copyrighted music using loudspeakers (radio-over-loudspeakers) without...

Read more

Number coding scheme back in NCR next week

byJoel E. Zurbano
August 12, 2022, 12:55 am
0
142
MMDA: Modified number coding to start after May 9 polls

The Metropolitan Manila Development Authority (MMDA) on Thursday announced it will reimplement the Unified Vehicular Volume Reduction Program (UVVRP) or...

Read more

‘COVID-19 calamity decision soon’

byVito Barceloand3 others
August 12, 2022, 12:50 am
0
154
COVID tally hits highest mark since Feb. 25

President Ferdinand Marcos Jr. will consider the recommendations of the Department of Health (DOH) on whether to extend the COVID-19...

Read more

Sy siblings, Villar, Razon top 2022 Forbes rich list

byJenniffer B. Austria
August 12, 2022, 12:45 am
0
160
Sy siblings, Villar, Razon top 2022 Forbes rich list

The Sy siblings, heirs to the fortune built by the late retail tycoon Henry Sy Sr., took the top spot...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App