VOTING 14-3, the Senate on Monday approved on third and final reading Senate Bill 2793 or the proposed Philippine Natural Gas Industry Development Act, which aims to achieve energy security and sustainable economic growth.SB 2793 seeks to develop the natural gas industry by revitalizing indigenous gas exploration and developing liquefied natural gas or liquefied natural gas infrastructures.Sen.
This legislation supports our own and also international commitments to cleaner and more efficient energy production,' the senator said. 'We have to remember that natural gas is a transition fuel, and our goal is to move to renewables.''This means also protecting consumer welfare because, with the entry, we promote the encouragement of more investments in natural gas,' she added.Cayetano said the proposed law has 'strong provisions for transparency and fair pricing.
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