Philippines Oil and Gas Report Q3 2017 21.06.2017| | | | | | |...

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BMI View: The Philippines will become increasingly reliant on energy imports due to rapidly declining
reserves at the flagship Malampaya gas and condensates field and limited exploration opportunities in its
most prospective blocks, especially those in the South China Sea. A slew of proposed LNG projects by
domestic and international firms, in addition to the imminent start-up of the Pagbilao LNG terminal in
2017, will drive a near six-fold expansion in the Philippines' LNG imports over the 10 years.
Latest Updates And Key Forecasts

• The Philippines is set to start its first liquefied natural gas (LNG) trade in 2017 with the imminent startup

of Energy World Corporation's 4.1 billion cubic metres LNG import terminal at Pagbilao.

• First Gen Corp has taken final investment decision on its plan to build an onshore LNG terminal at

Batangas. The terminal will have annual processing capacity of 5.0mn metric tonnes (equivalent to
6.8bcm) and cost about USD1.0bn. Construction is expected to begin in 2018, and be completed by 2022.