TAGAYTAY CITY -- The Department of Energy-Oil Industry Management Bureau (DOE-OIMB), in collaboration with the Gas Policy Development Project (GPDP), held a three-day training program on Liquefied Natural Gas (LNG), particularly on the financial, legal, and economic aspects of LNG projects, at the Taal Vista Hotel from 28 to 30 May 2019.
Energy Secretary Alfonso G. Cusi echoed his vision for the country, by saying, “It is high time for us to intensify our efforts in realizing our aspirations to develop our natural gas industry and transform the country as a regional LNG hub. Trainings such as these move us closer towards that goal. Let’s all give it a shot."
In his opening message, DOE-OIMB Director Rino E. Abad mentioned the need to steer the DOE towards a higher level of discussions on the technical, legal, and financial aspects of establishing the regasification terminal in our country.
DOE Assistant Secretary Leonido J. Pulido III and DOE-OIMB Assistant Director Rodela I. Romero were likewise present at the event.
Resource speakers included Atty. Mohamed Badissy from the U.S. Department of Commerce-Commercial Law Development Program, Atty. John-Patrick Sweny of Latham and Watkins, Engr. Don Jacob and Engr. Ferdinand Binondo of the DOE, and Dr. Ramon Clarete and Prof. Mark Asinas of the University of the Philippines.
The speakers discussed the topics on project structures and contracting arrangements, costing and pricing mechanisms, project evaluation, budget analysis, and financial modelling.
The activity is part of a series of trainings organized by the GPDP, which is funded through a cooperative agreement with the U.S. State Department under the U.S. Asia EDGE (Enhancing Development and Growth through Energy) initiative and implemented by the U.P. Statistical Center Research Foundation, Inc.
Over 40 participants coming from the DOE, Senate and House Committees on Energy, Energy Regulatory Commission, Philippine Competition Commission, Philippine Electricity Market Corporation, and the Bureau of Customs attended the three-day event.
###