MAKATI - Department of Trade and Industry (DTI) Secretary Ramon Lopez revealed that PT Pertamina, the second-largest crude oil producer in Indonesia, expressed their interest to take part in the development of Liquefied Natural Gas (LNG) in the Philippines (PH) through a regasification hub project worth an estimated USD 1B.
"More investors, in different industries like PT Pertamina, have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in creating a more comfortable life for every Filipino through various opportunities," said Sec. Lopez.
According to PT Pertamina Corporate Marketing Director Basuki Trikora Putra, the company is ready to offer its integrated LNG solutions by investing in FSRU or landed based LNG regasification and provide competitive LNG supply.
In a meeting on 29 January 2019 with the company’s executives, Sec. Lopez shared the growing energy landscape in PH and the government’s position on renewable energy sources.
“The Philippines is very much open for LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” he added.
PT Pertamina is a state-owned national energy company of Indonesia, which owns six refineries in their country that have combined production capacity of one million barrels of oil a day.
“Having a long experience as one of the world leading LNG global players, we would like to share the same experience in the Philippines. We are really keen to invest in the Philippines,” said Mr. Putra.
The company is also set to meet with the Board of Investments (BOI), Department of Energy (DOE), and Energy Regulatory Commission (ERC) to be aligned with PH’s plans and policies on energy and investment. This is the first visit of PT Pertamina in PH.
Present during the meeting were Indonesian Ministry of Foreign Affairs Director for SEA Hastin Dumati, PT Pertamina LNG Global Venture Manager Imam Mul Akhyar, SVP Gas & LNG Management Tanudji Darmasakti, DTI Undersecretary Rowel Barba, Assistant Secretary Angelo Taningco, BOI International Investments Promotion Service Chief Lanie Dormiendo, Director Nestor Arcansalin, and Indonesian Embassy Manila First Secretary Arief Adnan.♦
Date of Release: 30 January 2019
The Foreign Trade Service Officers successfully conducted their regional planning consecutively held from 03-13 December 2018 to discuss and review strategies in promoting Trabaho, Negosyo, Kabuhayan (TNK) goes Global program for overseas Filipinos, Philippine Export Development Plan (PEDP), and the country’s Investment Priorities Plan to improve the Philippines’ trade relations and increase investments for the year 2019 onward, among others.
Date of Release: December 2018
The Philippines, through the Department of Trade and Industry (DTI), is set to send a trade mission to Jakarta and Manado on 4 to 8 September in a bid to sustain the Davao-General Santos-Bitung Roll-On, Roll-Off (RORO) operations and expand trade with Indonesia.
The DTI said it is lending support to the Davao Chamber of Commerce and the Indonesian Consulate in Davao in organizing the upcoming trade mission to Jakarta and Manado.
“Sustaining the RO-RO operations, launched in April this year by President Rodrigo Duterte and Indonesian President Joko Widodo, is high on the agenda of DTI,” Trade and Investments Promotion Undersecretary Nora K. Terrado said.
“We want to see the sustained operations of the shipping service so our local entrepreneurs, particularly our small and medium enterprises in Mindanao, could begin to reap the gains from enhanced connectivity between Mindanao and Sulawesi, and the greater BIMP-EAGA region,” Undersecretary Terrado added.
The Philippine business delegation composed of government representatives and local entrepreneurs in Davao will focus on building networks and partnerships with Indonesian companies in the areas of trading, joint venture agreements, joint production schemes, and other forms of strategic partnerships.
Among the companies that are part of the delegation are Eagle Multi Purpose Cooperative, Mindanao Agriplus Corporation, Certuso Structural Speacialists Corporation, Halal Business Council, Aleson Shipping Lines, Inc. and Fastcargo Logistics Corp.
Business-to-business (B to B) meetings and networking sessions, site visits in Bitung Port as well as market and company visits are included in the mission’s itinerary.
DTI Regional Director Belenda Ambi noted that DTI expects targeted, high-quality meetings during the B2B and networking sessions. Meanwhile, market visits aim to help the business delegation to understand the Indonesian market in terms of product offerings, pricing, packaging, and competition.
“We enjoin the full cooperation of all stakeholders of both countries to maximize the opportunities being offered by the sustained operations of the route. This is a great opportunity that has been made available to local entrepreneurs to ensure that they could participate more in international business,” Ambi said.