Philippines President Ferdinand Marcos Jnr said on Monday that a “significant” discovery of natural gas had been made near the country’s sole producing offshore site.
About 2.8 billion cubic metres (98 billion cubic feet) of natural gas was found 5km (three miles) east of the Malampaya Field near the island of Palawan, Marcos said, or enough to provide power to 5.7 million homes for a year.
The Philippines has some of the region’s highest energy costs and faces a looming crisis as the Malampaya…
Philippines’ first gas discovery in over a decade offers hope for looming energy crisis
