Philippines’ new gas find fuels energy diversification hopes

The Philippines’ first natural gas discovery in more than a decade has raised hopes of the fossil fuel playing a bigger role in its energy mix and further finds near an ageing field as it aims to lower its reliance on coal and oil. President Ferdinand Marcos Jnr announced on Monday that a “significant natural gas discovery” was made at a well known as Malampaya East-1, or MAE-1, about 5km (3.1 miles) from the existing Malampaya gas field off the coast of Palawan. MAE-1 is estimated to contain...