Thursday, May 13, 2021

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House Panel Eyes Russia As PH Partner In Energy Building

House Panel Eyes Russia As PH Partner In Energy Building

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The House Committee on Energy, is eyeing Russia as a partner in building new sources of energy to boost our country’s energy requirements, its chairman said.

Committee chairman Rep. Lord Allan Velasco, who was part of President Rodrigo Duterte’s entourage to Russia, said the issue of energy was one of the topics discussed in the bilateral talks between Russia and the Philippines.

Velasco said the two countries could be good partners in building more sources of energy in the field of natural gas and thermal energy production.

He noted that 68 percent of Russia’s energy production comes from thermal energy, 16 percent from hydropower and 16 percent from nuclear.

Russia is also known as having the largest natural gas reserves in the world, the second-largest coal reserves, and the eighth largest oil reserves.

“We are rich in geothermal energy and our seas, we have lots of them, could also be harnessed for thermal energy production,” Velasco said.

The energy panel chair said the country is now geared toward cleaner sources of energy and that natural gas and geothermal energy could fuel the country’s electricity requirements.

He said there are five natural gas plants in the Philippines which, in 2017, provided 22 percent of the country’s total power demand.

The lawmaker also cited the need to develop and find more natural energy sources as the Malampaya gas fields are expected to hold only until the mid-2020s. (PNA)

Spotlight

A Summer Of LIMITLESS Happiness

LIMITLESS and Coca-Cola Philippines partner to share happiness to customers to get limitless rewards to both brands despite the pandemic.

Phoenix Grows Market Share In FY2020, Sustains Recovery In 1Q2021

Good news for shareholders! Phoenix Petroleum’s market share rose to 7.1% at the end of 2020

Tonik Raises US$17M In Pre-Series B Funding

Tonik, the first neobank in the Philippines, is on its way to revolutionize the way money works! Learn more about them:

Building Brand Authenticity Through Regenerative Thinking

'Sustainability' is said to be the key for business sectors to combat the consequences of global warming, especially in the Philippines.

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