Filipino consumers will have to prepare their pockets when the country’s gas plants will shift to imported LNG next year, as this could result in even higher electricity rates given the lingering uncertainties in global gas markets. READ:
Filipino consumers will have to prepare their pockets when the country’s gas plants will shift to imported liquefied natural gas next year, as this could result in even higher electricity rates given the lingering uncertainties in global gas markets.
Abad noted that gas plants will definitely shift to LNG starting next year because of the depleting state of the Malampaya field and the subsequent expiration of its service contract 38 in February 2024. When it comes to LNG supply, an assessment laid down by the International Energy Agency portends that supply tightness and high prices will continue to perturb global gas markets until next year.
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