President Ferdinand Marcos Jr. lauded the investment made by Tokyo Gas Co. Ltd. to boost the energy requirement of the Philippines.
“And so we are encouraged that in view of Tokyo Gas that it is worth the investment then we feel that we are going down the right path for our country’s energy mix and we are grateful for that vote of confidence that you have shown by your investment in the future of the Philippine economy, the future especially of our energy supply from liquefied natural gas,” the president said.
Tokyo Gas is an investor in the Philippines’ emerging LNG industry. It signed a joint development agreement with First Gen Corp. in December 2018 to jointly pursue the development of a liquefied natural gas terminal project in Batangas province. The LNG project is due for completion this year.
Marcos, along with other government officials and business leaders including First Gen chairman Federico Lopez went to Japan for a five-day working visit last week.
Marcos, in his meeting with Tokyo Gas officials led by president and chief executive Takashi Uchida, said the Philippines had been looking at going into a mix of renewable energy and traditional sources of energy to meet the growing demand of industries as well of the households in the country.