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The measure supporting the full development of the Philippine natural gas industry would improve investor confidence in the country, Senator Pia Cayetano said.A press release on Wednesday stated that Cayetano, who chairs the Senate Committee on Energy, has formally endorsed the passage of the proposed measure. She urged her colleagues to swiftly act on Senate Bill No. 2793 or the proposed Philippine Natural Gas Development Act.
She said the bill would provide a market for indigenous gas by giving priority to its procurement as well as the use for power generation, a policy that was already enshrined in the Electric Power Industry Reform Act . Cayetano said the proposed measure would assure investors of a market for the production of more wells. “Malampaya was supposed to be the first of many producing gas fields in the Philippines but it turned out to be the only one.
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