Philippine Gas Discovery Extends Life of Dwindling Legacy Field

The Philippines has discovered a new natural gas source for the first time in over a decade, extending the life of its depleting gas field as the nation seeks to cut its dependence on coal.

The discovered reservoir in Malampaya East-1, near the existing Malampaya gas field, is estimated to contain around 98 billion cubic feet of gas, equivalent to almost 14 billion kilowatt hours of electricity per year, President Ferdinand Marcos Jr. said in a video message on Monday.