Name: Philippines LNG long-term outlook 2019
Brand: Wood Mackenzie
SKU: 118299
Price: 10000 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Commodity Market Report 23 January 2019

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Report summary

The Philippines gas industry is largely driven by the power sector, with more than 96% of gas demand stemming from power. The industry is small and has not developed beyond the discovery of the Malampaya-Camago field. This field is expected to go into decline by the early 2020s. Malampaya currently supplies 3,211 MW of gas-fired capacity. LNG will be required to backfill the expected production decline. EWC is building a 1.5-mmtpa LNG terminal in Pagbilao, in southeast Luzon, which we believe will be operational by 2020. First Gen and Tanglawan Philippines LNG are also proposing to build LNG terminals in Batangas. This report presents Wood Mackenzie's view of the LNG supply-demand balance in the Philippines and reviews the key players involved.

3.3 GW of gas fired power is supplied by Malampaya
Supply agreements needed to guarantee power and, in turn, LNG demand
Selling exclusively into the merchant power market is possible but risky
Selling to the industrial sector will be difficult but diesel prices provide headroom
Pipelines
- Current
- Proposed
Regasification terminals
- Pagbilao
- Batangas
- Bataan
Downside risks
Upside risks
Southeast Asia Gas & Power Service