The Philippines and Indonesia have signed a Memorandum of Understanding (MOU) to strengthen the energy cooperation between the two countries.
President Ferdinand Marcos Jr. and Indonesian President Joko Widodo pledged to support their respective energy sectors, particularly during times of shortages of energy supplies like coal and liquefied natural gas (LNG).
“The signing of the MOU reinforces and updates the long-term energy cooperation between the two countries. On the part of the Philippines, it is an offshoot of our President’s efforts to achieve higher energy security through energy diplomacy,” said Energy Secretary Raphael P.M. Lotilla.
Furthermore, the agreement would prove to be beneficial for both countries in terms of energy transition, renewable energy alliances, and alternative fuels like ammonia, hydrogen, and biofuels.
The Department of Energy (DOE) said that both the Philippines and Indonesia shared common goals and would profit from the MOU, as both countries aim to transition to clean energy.
“Indonesia and the Philippines are second and third globally in terms of installed geothermal generation plants. Both are currently highly dependent on coal-fired power plants and…transitioning to clean energy to achieve the country’s energy security goals would require a transition fuel capable of providing baseload generation that would fill in the gap when existing coal-fired power plants start to retire,” DOE said.
Additionally, 98% of the nation’s coal imports in 2022 came from Indonesia, Lotilla said.
Photo courtesy of Radyo Television Malacañang (RTVM) Live Broadcast
