CAMARINES Sur Rep. Luis Raymund Villafuerte said on Saturday that the signing of a law that would promote the exploration and development of liquefied natural gas (LNG) in the country would convert the Philippines into a trading and transshipment hub for the fuel in the Asia-Pacific region.
Under Republic Act (RA) 12120, which was signed by President Ferdinand Marcos Jr. in January, a Philippine Downstream Natural Gas Industry (PDNGI) will be created to achieve energy security and develop a transition fuel for the government’s accelerated switch from fossil fuel to renewable energy.