Philippines Announces Discovery of Significant Natural Gas Reserves Off Its Coasts

SadaNews - President Ferdinand Marcos of the Philippines announced today, Monday, that a "significant" quantity of natural gas has been discovered near the only gas-producing maritime site in the archipelago.

Marcos stated that approximately 98 billion cubic feet (2.8 billion cubic meters) of natural gas were found about five kilometers east of the Malampaya gas field near Palawan Island, which is enough to supply energy to around 5.7 million homes for a year.

Energy costs in the Philippines are among the highest in the region, and the country is facing an impending crisis with the expected depletion of the Malampaya gas field in a few years, which supplies about 40% of the energy needs for the large island of Luzon.

Marcos noted that this discovery, the first in over a decade, "enhances the contribution of the Malampaya field and strengthens our domestic gas supplies for many years to come. Initial tests have shown that the well flows at a rate of 60 million cubic feet per day."

The Philippines has been experiencing frequent power outages and relies on imported coal to secure more than half of its energy production.

In 2022, then-President Rodrigo Duterte ordered a halt to oil and gas exploration in disputed areas of the South China Sea with China.