The Philippines today announced a “significant natural gas discovery” that President Ferdinand Marcos Jr. said would help secure the nation’s gas supply “for many years to come.”

In a video posted to his social media accounts this morning, Marcos said that gas and condensate had been found at a well close to the existing Malampaya gas field off the island of Palawan.

The well, which is officially known as Malampaya East One or MAE-1, is estimated to contain about 98 billion cubic feet of gas in place, equivalent to almost 14 billion kWh of electricity in one year, Marcos said, according to The Inquirer. He said that this would be enough to supply power to more than 5.7 million households annually.

“Initial test results show that the well flowed at 60 million cubic feet per day. This indicates the well has the potential to produce even more, confirming that it is a high‑productivity resource comparable to the original Malampaya wells,” Marcos said.

“Aside from natural gas, the discovery also includes condensate,........

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