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Saturday, April 13, 2024

Japanese firm dangles ‘stable LNG’

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A JAPANESE power generation company has committed to provide the country a “stable” supply of liquefied natural gas (LNG) to help it transition from using fossil fuels to renewable energy.

JERA Co. Inc. president Satoshi Onoda gave the assurance during his meeting with President Ferdinand R. Marcos Jr. on Thursday in Tokyo, Japan.

“I may have mentioned this back in June as well, however, we are procuring more than 30 million tons of LNG per year. Therefore, we will be able to contribute to the Philippines in the supply of LNG as transition fuel,” Satoshi said.

JERA is also currently coordinating with Aboitiz group to develop the LNG technology from using ammonia to “green” hydrogen instead.

“We will be working on co-firing ammonia technology as well. Therefore, we would like to be able to provide this technology as well in a timely manner. We would like to utilize the various technologies in order to contribute to the economic growth as well as decarbonization in the Philippines,” Satoshi said.

Marcos welcomed the development, which will help the country reduce dependence on coal and oil for power production.

“I suppose now they really have been discussing the interim—what we are doing in the interim until renewables can take the whole—can be able to provide rather the entire demand of the Philippines and beyond,” Marcos said.

Some environmental groups like the Philippine Movement for Climate Justice (PMCJ) opposed the plans by the private sector to increase LNG use in the country, saying it will lead to carbon emissions.

It noted the pending 24 power plant projects, which will use LNG, nationwide will not only be harmful to the health of the people where such will be built, but also to the economy due to the fluctuating price of the said fuel.

“The energy crisis in the fossil gas-dependent Western hemisphere due to the Russia-Ukraine war…has resulted in the skyrocketing of global pump prices. Domestically, the scarcity of fossil gas would not only impact energy security and electricity rates but would further worsen record high inflation rates according to the group,” PMCJ said in a statement.

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