Commodity Market Report
Philippines LNG long-term outlook 2019
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
- 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
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Pipelines
- Current
- Proposed
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Regasification terminals
- Pagbilao
- Batangas
- Bataan
- Downside risks
- Upside risks
- Southeast Asia Gas & Power Service
Tables and charts
This report includes the following images and tables:
- Philippines gas supply-demand balance
- Gas prices (Malampaya)
- LNG regas infrastructure
What's included
This report contains:
