Metro Manila, January 11 ------ The Philippines and Indonesia have agreed to boost their cooperation in the energy sector, especially during a supply crunch, President Ferdinand Marcos Jr. said. Following his bilateral meeting with Indonesian President Joko Widodo, Marcos said that they had exchanges on ways to “deepen” the two countries’ political and economic relations. One of them was the signing of a memorandum of understanding (MOU) on cooperation in the field of energy. “Through this MOU, our country creates a new synergy as we cooperate to achieve energy security,” Marcos said in his speech in Malacañang.
In a separate statement, Energy Secretary Raphael Lotilla said this was part of the current administration’s efforts to “achieve higher energy security through energy diplomacy.” “Both parties agreed to facilitate cooperation between their respective business sectors, particularly during periods of critical supply constraints on energy commodities such as coal and liquefied natural gas,” Lotilla said.
According to the DOE chief, the deal also entails for both nations to work closely on energy transition, renewable energy, demand-side management, electric vehicles, and alternative fuels such as hydrogen, ammonia, and biofuels. Indonesia, the most populous country in Southeast Asia, is the world's largest palm oil exporter. It is also a crude oil and natural gas supplier.
Source: cnnphilippines.com
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