Philippine Senate approves natural gas industry development bill

The Philippine Senate has passed Senate Bill No. 2793, known as the Philippine Natural Gas Industry Development Act, with 14 votes in favor and three against. This bill establishes a framework for developing the local natural gas industry. The legislation aims to create a reliable natural gas supply for power plants while promoting a shift to renewable energy. It prioritizes locally sourced gas in power supply contracts and offers incentives to attract investments in the sector. The bill's approval comes just before discussions on the 2025 General Appropriations Bill.