“We have to continue exploring for new gas and we will need LNG to fill in the gap,” she said.
“After more than 20 years , production from Malampaya is dwindling and there is an urgent need for us now to explore and develop a more indigenous gas sources,” said Cruz at the hearing.Prime Energy has partnered with First Gen Corp. for a gas aggregation framework that would put in place an orderly system of gas distribution.
Supply of gas to power plants would be rationalized under the gas aggregation plan, which was seen to result in stable rates for consumers.“W believe this will enable a stable, clear and predictable regulatory framework that protects the interest, both of the investor and consumers,” Cruz told senators.
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