A new frontier LNG market

The Philippines is emerging as a new frontier LNG market, attracting strong interest from LNG producers and traders.

Analysts stated in a new report recently, highlighting that the country only entered the LNG market “as a small player” in April this year when Atlantic Gulf & Pacific Co (AG&P) began importing LNG.

“AG&P commissioned the country’s first five million ton per annum Philippines LNG floating, storage and regasification unit in Batangas Bay in April 2023”, the analysts noted in the report.

“Based on the approved LNG import terminals, Philippines’s LNG imports could increase up to 22 million tons per annum if all seven terminals were completed,” they added.A