The Philippines natural gas production is set to see fairly robust growth through our forecast period. However, we believe that gas consumption will continue to swell, outpacing production; thus leading to increased, costly imports. Although the country is looking to supplement its current gas supply with liquefied natural gas (LNG), this is not expected to materialise until ---------. Moreover, we are expecting gas imports to become scarcer in the coming years, due to significant regional gas producers - such as Indonesia and Malaysia - potentially reducing exports. As a result, coal is emerging as the cheapest and most convenient source for power generation. ...The country s is set to receive its first LNG imports by Q--- when Australia-listed Energy EWC LNG terminal becomes operational. Additionally, First Gen has announced that construction of its USD-bn LNG terminal is likely
...Notwithstanding the adverse effects that linger from Typhoon Haiyan that struck the Philippines in late ----, we still expect to see growth in the longer term, with a range of projects including coal-fired plants and various renewable energy constructions in the pipeline. We forecast total electricity generation growth of -.- in ----, reaching --.-TWh. Further growth throughout the forecast period means total generation is expected to reach ---TWh by ----. Thermal energy will continue to dominate the energy market in the Philippines, accounting for over -- of total electricity generation through our forecast period. Healthy growth is expected across coal, natural gas and hydropower. ...Healthy growth is expected across coal, natural gas and hydropower. The growth in electricity generation means we expect the Philippines will be able to keep up with the expected increases in consumption, which we forecast will grow by about -.- a year, although the country is vulnerable to fluctuations and we believe the power situation will remain tenuous.
...Gas resources are significant and provide the basis for greater fuel self- sufficiency; First Gen s plans to construct a LNG storage and regasification facility will help support the sector. A series of coal-fired power projects have been approved, indicating that thermal sources of power will continue to play a key role in the electricity-generating mix. ...
