(Eagle News) — Russia could help supply the Philippines’ energy requirements, including oil and gas, and eventually bring down high energy costs, according to the Philippine ambassador to Russia.
Ambassador Carlos Sorreta noted that Russia is a major player in oil and gas, and could also help the Philippines to have a “more stable energy cost.”
“It’s a country that holds the promise of lower energy cost and more stable energy cost for the Philippines,” he said.
Russia can invest in the Philippines energy sector, including in setting up plants for natural gas, the ambassador noted.
Sorreta said they want Russia to invest in the Philippine energy sector by setting up plants for natural gas, particularly in liquefying natural gas extracted in the country.
“We’re looking at Russia investing in our energy sector, setting up plants for natural gas, different steps to liquefy for our natural gas,” Sorreta said in an interview with media during President Rodrigo Duterte’s trip to Russia.
He said that there are also preliminary discussions on Russian participation in the country’s possible adoption of nuclear energy to meet its growing demand for power.
But they are still “trying to understand what Russia can do and what we are ready to absorb.”
With regard to nuclear use, the Philippines and Russia already have very advanced talks in non-energy uses, particularly for medicine and radiology, the ambassador said.
Aside from energy, the Philippines is looking at more Russian investments in the Philippines, including in agricultural production, information technology, and manufacturing.
The Philippine ambassador said they are still trying to entice Russian investors for them to partner with Filipino businesses for agricultural production.
He reported that Russia is already exporting trucks to the Philippines, noting two top Russian brands are now being marketed in the country.
“They are very good at what they do. And we should not be closed-minded and you know, learn. It doesn’t mean we’re going to be like them but we have to learn,” he said. “I can’t say but there’s a Philippine company that is very interested in Russian IT.” (with a PND report)
