THE US is exploring possible involvement in building the Philippine strategic oil reserve, the Department of Energy (DoE) said.
The discussions took place during a meeting between Energy Secretary Sharon S. Garin and US Energy Secretary Chris Wright in Washington, D.C., on Oct. 15.
“Strengthening our partnership with the United States will help us diversify our energy sources, develop indigenous resources, and build the technical capabilities needed to support our long-term energy security,” Ms. Garin said in a statement on Sunday.
The broader areas of potential cooperation involve liquefied natural gas, coal, geothermal, and nuclear energy, as well as natural hydrogen.
The two officials explored opportunities for the Philippines to draw on US experience in emergency oil stockpiling and preparedness for international supply disruptions.
As a net oil importer, the Philippines was among the countries hardest hit by the US-Israel war on Iran, which disrupted oil supplies from the Middle East.
The government has moved to shield the Philippines from future oil shocks by building a strategic petroleum reserve.
The two officials also discussed the progress of their earlier nuclear energy cooperation projects covered by the Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy, commonly known as the 123 Agreement, which was signed in 2023 and came into force in 2024.
They also discussed US support for the Philippines’ nuclear power preparations, including a program which builds technical and institutional capacity for the safe and responsible development of small modular reactors.
The US Trade and Development Agency will organize a reverse trade mission to connect Philippine officials and industry representatives with US nuclear technology providers and experts in financing, regulation, and workforce development.
The Philippine Energy Plan calls for integrating nuclear energy into the national power mix with at least 1,200 megawatts of capacity by 2032, doubling to 2,400 MW by 2045 and to 4,800 MW by 2050.
Regarding indigenous energy development, the officials explored opportunities in geothermal energy and natural hydrogen, including Koloma’s native hydrogen exploration activities in the Philippines.
Koloma was the first company awarded natural hydrogen exploration service contracts in the Philippines. It now holds three contracts covering more than 4,100 square kilometers in Central Luzon and western Zambales.
The DoE said it “continues to pursue international partnerships that strengthen the country’s resilience against energy supply disruptions, support the responsible development of domestic resources, and expand access to reliable and affordable energy.” — Sheldeen Joy Talavera