The Philippines aims to boost energy security through strengthened cooperation with Saudi Arabia.

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By admin 2 Min Read

The Philippines is actively seeking to bolster its international energy partnerships, particularly through a new collaboration with Saudi Arabia. With frequent power outages and high energy costs, Manila is on a quest to explore clean and sustainable energy solutions. Currently, coal remains the predominant source of electricity in the nation, contributing over 50% of its power generation.

A Philippine energy delegation is set to visit Saudi Arabia for two days, focusing on enhancing energy security, promoting economic growth, and fostering sustainable development. A key component of this mission includes the signing of a memorandum of understanding with the Saudi Arabian Ministry of Energy.

This trip follows President Ferdinand Marcos Jr.’s previous visit to Riyadh last October, which resulted in a $4.26 billion investment agreement with Saudi business leaders. Following that event, several state-owned Saudi enterprises expressed interest in investing in the Philippine energy sector.

The preliminary agreement aims to create a framework for cooperation in critical areas such as renewable energy and natural gas, alongside technology solutions for climate change mitigation. According to the Philippine Energy Plan, the government aims to elevate the share of renewable energy in the country’s energy mix from the current 22% to 50% by 2040.

As demand for electricity is expected to nearly quadruple by 2040, especially given the country’s reliance on imported fossil fuels and limited renewable sources, partnerships with Saudi Arabia are seen as essential. They offer the opportunity for collaborative research and development, policy exchanges, and capacity building in fields like carbon capture and hydrogen technology.

Continued global efforts for a cleaner energy transition provide a fertile ground for the Philippines and Saudi Arabia to jointly develop innovative low-carbon technologies.

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