President Ferdinand Marcos Jr. signed Republic Act No. 12120, a law aimed at promoting the development of the Philippine natural gas industry. The legislation consolidates existing laws to establish a comprehensive framework for the exploration, development, and utilization of natural gas resources.
President Ferdinand ‘Bongbong’ Marcos Jr. has signed into law Republic Act No. 12120, aimed at promoting the development of the Philippine natural gas industry.
The legislation consolidates existing laws to establish a comprehensive framework for the exploration, development, and utilization of natural gas resources in the country.The new law, which was signed on January 8 and uploaded to the Official Gazette on January 14, seeks to enhance energy security, attract investments, and ensure environmental sustainability by streamlining regulatory processes and providing incentives for stakeholders in the natural gas sector.
It also emphasizes the importance of adhering to international safety and environmental standards in all industry operations. The Department of Energy will oversee the implementation, including the regulation of the aggregation process—combining indigenous and imported natural gas for domestic and international use. Republic Act No. 12120 is set to take effect 15 days after its publication in the Official Gazette or in a newspaper of general circulation.
The enactment of this law underscores the government’s commitment to diversifying the country’s energy sources and promoting sustainable economic growth.
ENERGY POLICY NATURAL GAS PHILIPPINE ECONOMY INVESTMENT SUSTAINABILITY
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