Philippines allocates (US)$1.56B to energy

Philippines allocates (US)$1.56B to energy

The Philippine government has allocated (US)$1.56 billion for power and energy projects in 1996, according to the National Economic and Development Authority. Two major projects to be funded are the Palippinon II modular geothermal and the Leyte-Cebu interconnection projects.

Philippine National Power Corp. is planning a 2,000-MW natural-gas-fired plant in Mindanao. It will be the biggest power facility in the southern region. The combined-cycle plant is expected to cost (US)$2 billion and will enter commercial operation by 2015.

The US Department of Energy plans to encourage development of local gas fields and is looking into the proposed trans-ASEAN pipeline. Direct liquefied natural gas importation is also being considered.

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