Philippines' PNOC signs LNG agreement with Indonesia's Pertamina
State-owned firms Philippine National Oil Company (PNOC) and Indonesia's Pertamina have signed a preliminary agreement to develop liquefied natural gas (LNG) and other energy sources.
PNOC and Pertamina will seek opportunities to cooperate in the LNG market in the Philippines, said PNOC in a statement to Reuters on Wednesday. This includes establishing LNG and gas infrastructure to meet rising energy demands in both countries.
The two energy firms will also share information on the LNG supply chain, and explore opportunities to commercialize the production of other products such as biofuel and sustainable aviation fuel (SAF).
"PNOC wants to learn about LNG from Pertamina," said Pertamina spokesperson Fadjar Djoko Santoso, adding that no specific project has been discussed.
A new entrant to the LNG market, the Philippines began importing spot cargoes of the super-chilled fuel since May last year. It has imported 1.71 MMt of LNG to date, according to data from analytics firm Kpler.
Meanwhile, Indonesia is a major producer and exporter of LNG, exporting over 12 MMt of LNG last year.
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