Energy Undersecretary Gerardo D. Erguiza called for a system of “fair pricing” for natural gas, demand for which has grown because of the Russian invasion of Ukraine. Fear of sanctions on Russia, a major gas supplier to Europe, has sent Europe scrambling for alternative sources of supply, making energy more expensive overall.
Manila Electric Co., which sources most of its natural gas from the offshore Malampaya field, warned consumers on Thursday that the impact of the Russia-Ukraine crisis will be felt by power consumers in May. Alexander P. Gamboa, managing director and global head of business development for AG&P Manila, Inc., said the terminal will help service the gas market that had been created by Malampaya.
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