Shell executive questions LNG into the Philippines; signals exploration intentions

摘要

Shell is willing to conduct further exploration near the Philippines sole producing gas field but the company needs clarity on the fiscal regime, Pilipinas Shell CEO Cesar Romero was quoted as saying, questioning the need for proposed LNG imports. The company is reportedly pushing to conduct further exploration offshore in the hope of finding another Malampaya gas field - the field once held 2.5 Tcf of gas and is due to cease production in 2024 - with more gas needed to help prevent stranding ~3 GW of gas-fired power.