JICA Interested in Batangas Manila Gas Pipeline

Japan International Cooperation Agency has expressed interest to finance the planned Batangas Manila natural gas pipeline project. The 100 kilometre pipeline is likely to cost $150 million.

JICA has conducted a study on the prospects of the Philippine natural gas sector.

Energy secretary Jose Rene Almendras told reporters that that state owned Philippine National Oil Co was incorporating PNOC Pipeline Corporation that will handle the Batman 1 project. PNOC holds the franchise to operate a pipeline, manila Standard Today reported.

He added that "We are looking at USD 150 million for the pipeline. That's what we are computing and the correct equity position to make the project work. In addition to equity investment, you need to borrow money. By the nature of the pipeline, you need long term money because in the first few years, you will not earn because you are building."