HE the Republic of the Philippines' Secretary of Energy Raphael P.M. Lotilla expressed optimism about the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Philippines with regards to fortifying bilateral energy relations by accelerating the approval of the Memorandum of Understanding (MoU) on Energy Cooperation between the Department of Energy in the Philippines and QatarEnergy. His Excellency told Qatar News Agency that the State of Qatar is a global key player in the Liquefied Natural Gas (LNG) industry and is widely known as a top global dry natural gas producer, LNG exporter, and natural gas reserves holder, which has a good reputation for keeping its geopolitics apart from its supply commitments, expressing his hope to benefit from these capabilities. HE the Secretary of Energy said that the continuous and active coordination between the key officials of the Philippines and Qatar regarding energy matters signifies the utmost interest of both countries in strengthening bilateral energy relati ons to a higher level, adding that since 2018, both sides have made significant efforts to enter into a MoU on Energy Cooperation, which evolved over time and through a series of communications. Lotilla added that work is currently underway to finalize the MoU on energy cooperation with QatarEnergy, which once signed, will elevate bilateral energy ties and bear the fruit of bilateral efforts. The Secretary of Energy of the Philippines also pointed out that the Philippines faces several challenges when it comes to the energy sector, such as the electrification of unserved and underserved rural areas, delays in transmission projects that hamper the attainment of the RE targets, the heavy reliance on imported and conventional fuels, and the volatility of oil prices in international markets. HE the Secretary of Energy said that despite all that, the Philippines is trying to turn these challenges into opportunities, through enhancing energy sources, particularly renewable energies, importing LNG from Qatar, and by responding to emerging energy challenges and issues to ensure a sustainable and stable energy supply. His Excellency added that the Philippines is pursuing a sustainable path towards clean energy and a low-carbon future, and that for it to achieve this envisioned future, the Philippine agenda was crafted aimed at facilitating access to affordable energy, securing a reliable and resilient energy supply, and transitioning to clean and sustainable energy sources. His Excellency said that in order to encourage investments in the energy sector, the Philippine government has strengthened its coordination with various energy stakeholders by establishing linkages between government offices and entities involved in processing energy projects, permits, and applications, in order to create an attractive investment environment and manage energy generation and distribution projects. The Secretary of Energy of the Philippines expressed hope that this visit will be an opportunity to enjoin Qatar to invest in the imple mentation of energy projects in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), particularly in the advancement of the power sector and the upgrading of the transmission and distribution backbone in the off-grid and remote areas in Mindanao, which His Excellency added is the second-largest island in the Philippines, having substantial and growing energy needs despite being rich with RE resources, with some of its areas still lacking access to electricity due to not being connected to the main power grid. HE Raphael P.M. Lotilla pointed out that the Philippines allows 100 percent foreign ownership for Renewable Energy (RE) technologies and has in place a Green Energy Auction Program (GEAP) in order to promote a competitive method for setting RE power supply rates in the country. Source: Qatar News Agency
Wednesday, November 06, 2024