Russia will invest in the country’s energy sector, specifically in the installation of natural gas plants in the Philippines.
This according to Russia’s Philippine Ambassador Carlos Sorreta.
“[In] conventional energy, you know Russia is a major player in oil, in gas. So there’s that…that’s what we’re looking at. But we’re looking beyond,” he was quoted in a Philippine Daily Inquirer report.
“We’re looking at supply also to bring down… ‘yung (to) increase sa (our energy) supplier[s]. [With very low] supplies, you can’t bring down [fuel] prices,” he added. “And we’re looking also—it’s still very early—ang (at) nuclear power na merong mga konting (and there are a few) talks [going on], trying to understand what Russia can do and what we are ready to absorb.”
Meanwhile, Sorreta was asked whether there are any possibilities for Russian companies to carry out exploration in Spratly Islands, in which he replied, “I believe our policy is…you know that’s ours. If you want someone to have a contract with us, whether it’s Russian, it’s ours.”
“When it comes to exploring the private business, we’ll look at the bottom line of its profits. So we have to show and we have been ever since before… Kasi (Because) it’s ours eh. Parang huwag tayong mahihiya (Let’s not feel ashamed) ‘cause we’re trying to deal with our…the other contenders,” he said.
The islands are claimed by Taiwan, Brunei, China, Malaysia, the Philippines, and Vietnam for it is believed to hold oil and gas reserves.
“Exploration of course at this point because we need to know what’s there before we can proceed to… And then they’re willing to do it within our laws,” Sorreta said.
“Well, they’re not a claimant. If they come in, it’s really in full recognition of our sovereign rights and our right to explore or not to explore, to explore, to not to exploit,” he added.