Report: RE endangers viability of LNG projects on May 6, 2021 at 8:29 pm
Around $13.6 billion (about Php654 billion) worth of liquefied natural gas (LNG) projects could be stranded due to the growth of renewable energy (RE) in the Philippines, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).
The report cited the government’s “rapid buildout of infrastructure” ahead of the depletion of the Malampaya gas field’s resources.
“As renewables prices continue to drop and global LNG markets tighten to increase fuel costs, LNG-related investments will become increasingly uncompetitive in the Philippines market, especially as smaller electricity consumers become eligible to choose their retail suppliers,” IEEFA Energy Finance analyst Sam Reynolds said in a statement.
$14B in planned LNG infrastructure in PHL at risk of being stranded BusinessWorld 3 hrs ago
Reporter
NEARLY $14-billion worth of planned liquified natural gas (LNG) import infrastructure in the Philippines may be at risk of becoming stranded assets as the cost of renewable power generation drops, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
“All 10.9 GW (gigawatts) of LNG-fired power capacity in the current pipeline with an estimated value of $13.6 billion in total investment is at risk of being stranded as the market adapts to lower cost renewable power generation,” IEEFA, an organization that examines energy markets, trends and policies, said in a report.
DOE flagged on error in Vires Energy s LNG application – Manila Bulletin mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
The Philippines has approved yet another proposed liquefied natural gas (LNG) to power scheme as the country faces a looming gas supply crunch. The latest award, to Vires Energy, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
LNG-to-power Archives | Energy Voice energyvoice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energyvoice.com Daily Mail and Mail on Sunday newspapers.