The rehabilitation of the Agus-Pulangi hydroelectric power plants in Mindanao and the construction of a liquefied natural gas facility to supplant the Malampaya natural gas field before its reserves are depleted will ensure a stable power supply, Finance Secretary Carlos Dominguez III said.
Dominguez said these projects would be vital as the Duterte administration embarked on a massive infrastructure program over the medium term.
Dominguez said the government was already in talks with potential Japanese investors to supply LNG receiving stations as a part of the integrated LNG facility that the Department of Energy and
Philippine National Oil Co. were building ahead of the depletion of the Malampaya gas reserves by 2024.
The Malampaya gas field off Palawan supplies up to 50 percent of the energy requirements for Luzon.
Dominguez said the government would rehabilitate the Agus power plant complexes in phases, starting with the plant with the oldest generating units. It decided to include the first stage of the rehabilitation in the second basket of projects for possible financing by China through official development assistance.