The Philippines will be the next Dubai.
This is the speculation made by many including Maguindanao 2nd District Rep Zajid Mangudadatu after an unexploited source of natural gas in the said province is now getting the attention of many Filipinos.
Back in 2013, fishermen in Lake Buluan in Maguindanao’s Liguasan Marsh have accidentally discovered a source of methane gas when they are in search of fresh drinking water after long days of fishing.
“Itong methane gas na ito, natuklasan namin noong October 27, 2013, so mag-5 years na po itong natural gas na natuklasan namin,” Mangudadatu said.
The lawmaker proudly explained that the Liguasan Marsh contains 68 billion cubic feet of gas and is believed to contain oil and coal if dug deeper.
“Based on a Department of Energy exploratory project conducted by Philippine National Oil Company in 1994, they came out with a prospect of 68 billion cubic feet of natural gas in Liguasan Marsh,” Mangudadatu said in an interview with DZMM.
He added that the natural gas reserve would cost an estimated $1 trillion or roughly around P50-trillion.
“Palagay ko in 25 years kayang-kaya madevelop iyan (I think it can be developed in 25 years). I am very optimistic that the Philippines will be the next Dubai,” he said.
“This is not just for Maguindanao province, but for the whole country,” he added.
During the past years, the local government through Mangudadatu made an effort to distribute cooking stoves so that residents can make use of methane gas source to make it useful, otherwise, it will be wasted.
The Liguasan Marsh area has witnessed a different bloody clash between Muslim rebels and government forces including Mamasapano encounter that took the lives of 44 police commandos and spoils the peace negotiations.
US$1 trillion worth of natural gas found in Liguasan Marsh, Maguindanao#liguasanmarsh#liguasan#maguindanao#methanegas
Posted by Liguasan Marsh on Friday, May 25, 2018