The Malampaya Natural Gas which powers major power plants generating cheaper electricity in Luzon, guarantees the current supply of natural gas will last until the year 2024 or in the next ten (10) years. The confirmation of the possible supply of the natural gas deposit was announced by the company that managed the Malampaya, the Shell Philippines Exploration.
Although the natural gas supply will last only in the next ten years, the company also noted that they looking for prospects of additional supply from the Malampaya field or a new find in the West Philippine Sea.
The Department of Energy on their part, still needs validation that put the estimated natural gas deposits in the West Philippine Sea is at 10 trillion cubic feet. The field development manager of Shell Philippines, Engr. Delton Sy, also stated that the company has prospects of natural gas deposits but it still need exploration.
Based upon the previous estimates by energy experts, the Malampaya field off the coast of Palawan has around 2.7 trillion cubic feet of natural gas deposit, while the Recto Bank, part of the West Philippine Sea, which was also claimed by China, has an estimated gas deposits that triple the Malampaya estimated natural gas deposits.
The Philippine national government already awarded drilling contract at the Recto Bank, the company is set to start drilling in the year 2016. Another project is expected to be awarded by the DOE, in a block adjacent to the Recto Bank, which has a huge potential for natural gas deposit.
The Malampaya Natural Gas Field off the coast of Palawan has contributed to the stable supply of electricity in Luzon powering Santa Rita, San Lorenzo and Ilijan plants, generating a total of 2,700 megawatts of cheaper electricity.
The $4.5 billion Malampaya gas-to-power project was jointly developed by Shell Philippines Exploration B.V. (SPEX) (45%), Chevron Texaco (45%) and PNOC EC (10%). The project was inaugurated on October 16, 2011.
