Latest news with #PhilippineEnergyPlan
GMA Network
14-07-2025
- Business
- GMA Network
Marcos optimistic on finding further energy reserves at Malampaya gas field
President Ferdinand ''Bongbong'' Marcos Jr. on Monday expressed optimism on finding ''further'' energy reserves at the Malampaya gas field. Marcos mentioned this at the start of his speech during the groundbreaking ceremony of the Caticlan Passenger Terminal Building in Nabas, Aklan. He mentioned the presence of Energy Secretary Sharon Garin at the event. ''Energy Secretary Sharon Garin, who is with us today because after here, we are going to fly by the rig in Malampaya that is now slowly drilling down into the seabed with a reasonable chance of success of finding further reserves...," Marcos said. In October of last year, Razon-led Prime Energy Resources Development B.V.'s plan to drill new deepwater wells at the Malampaya gas field received a certification, which will pave the way for faster regulatory approvals of the project. The firm said that the Malampaya Phase 4 project has secured the Energy Project of National Significance (EPNS) certification from the Department of Energy. This certification refers to major energy projects that are in consonance with the policy thrust and implementation of the Philippine Energy Plan (PEP). The Malampaya Phase 4 entails the drilling of the Camago and Malampaya East production wells and the drilling of the Bagong Pag-asa exploration well. The planned drilling and development would require an investment of more than $600 million. So far, Malampaya has contributed over $13.8 billion to the Philippine government since its commercial operations began in 2001. It supplies about 20% of Luzon's electricity needs and has significantly contributed to the nation's energy independence since 2001. —KG, GMA Integrated News
GMA Network
13-06-2025
- Politics
- GMA Network
DOE lauds ratification of PhilATOM bill
The Department of Energy (DOE) on Friday welcomed the Bicameral Conference Committee's ratification of the Philippine National Nuclear Energy Safety Act, which establishes the Philippine Atomic Energy Regulatory Authority (PhilATOM), as this would pave the way for the country's foray into nuclear power generation in the near future. 'After two decades of advocacy and deliberation, the passage of the PhilATOM bill marks a historic turning point for the Philippines. We will now have the necessary legal and institutional foundations to guide the development of nuclear energy infrastructure with oversight for the highest standards of safety and security. This is a critical step forward in strengthening our long-term energy security while ensuring that every action we take is anchored on responsibility, transparency, and public trust,' DOE's incoming officer-in-charge Undersecretary Sharon Garin said at a press conference in Taguig City. Garin also oversees the Nuclear Energy Program-Inter-Agency Committee (NEP-IAC), which leads the formulation of the country's nuclear energy roadmap and coordinates efforts to address the 19 infrastructure issues identified by the International Atomic Energy Agency (IAEA), including the establishment of a legal and regulatory framework. The DOE official said the creation of PhilATOM is essential in ensuring that all aspects of nuclear energy infrastructure, such as siting, construction, licensing, safety, and eventual operation, are effectively and comprehensively regulated by an independent and competent authority. She, however, clarified that the establishment of PhilATOM does not signal the immediate construction of a nuclear power plant as any country pursuing nuclear energy must undergo a rigorous, step-by-step process and comply fully with the IAEA's stringent requirements for nuclear infrastructure development. Under the Philippine Energy Plan, the country targets to build its first working nuclear power plant by 2032. The Philippine National Nuclear Energy Safety Act was approved on third and final reading by the Senate on June 9, 2025. The House of Representatives earlier approved its counterpart bill in November 2023. Once enacted into law, PhilATOM will serve as the country's sole and independent regulator for 'the peaceful, safe, and secure uses of nuclear energy and radiation sources.' The agency will also act as the official national point of contact in the event of nuclear or radiological emergencies, in line with international conventions and agreements to which the Philippines is a party. The generation of electricity from nuclear energy will remain governed by the Electric Power Industry Reform Act (EPIRA) and subject to the regulatory oversight of the DOE and the Energy Regulatory Commission (ERC). "Ultimately, our pursuit of nuclear energy is guided by the vision of securing a safe, clean, and reliable power source for future generations," Garin said. — BAP, GMA Integrated News
