Senate Bill No. 2247, or “An act promoting the development of the Philippine downstream natural gas industry,”, which aims to reduce electricity costs as well as generate employment opportunities in the country, has gained movement in the Senate.
The bill, which was introduced by Senator Raffy Tulfo in May of last year, aims to establish an extensive legislative policy to hasten the development of the natural gas sector in the Philippines, Inquirer reported.
Tulfo’s special legal counsel, Atty. Gareth Tungol, emphasized the potential benefits, including enhanced energy security, reduced electricity costs, and job creation.
The bill mandated a “priority” treatment for dispatching indigenous natural gas to incentivize investments in domestic gas resources.
Furthermore, prioritizing local gas over imports would drive investment in local infrastructure and create job opportunities.
Tungol then stressed the importance of the natural gas industry’s development for energy security and its potential to create a “trickle-down effect” by generating jobs. A similar measure has already gained approval in the House of Representatives in August last year.
