De Lima: No reason to entrust Malampaya gas project to Dennis Uy's firms | Inquirer News
Close  

De Lima: No reason to entrust Malampaya gas project to Dennis Uy’s firms

/ 11:35 AM December 21, 2021
De Lima: No reason to entrust Malampaya gas project to Dennis Uy's firms

FILE PHOTO: Senator Leila de Lima. INQUIRER FILES

MANILA, Philippines — There is “absolutely no reason” for the Philippine government to entrust the Malampaya gas project to Dennis Uy’s Udenna Corporation and its subsidiary UC Malampaya for their history of partnering up with China-owned companies, Senator Leila De Lima said.

De Lima said the sale of Malampaya to Udenna and UC Malampaya “is not only replete with badges of irregularities, it is indicative of a collusion prejudicial to the interests of the Filipino people.”

ADVERTISEMENT

“There is absolutely no reason why we should entrust Malampaya to Udenna and UC Malampaya. They have neither the resources nor expertise to run the operation and conduct further exploration,” De Lima said in a statement on Monday.

“And worse, they have a history of partnering up with China-owned companies who continue to dispute our legally-established rights over the West Philippine Sea,” the senator added.

FEATURED STORIES

De Lima underscored the importance of Malampaya, saying the country relies heavily on its energy production as well as the revenue it generates.

“Equally as important is its location in the West Philippine Sea where China is slowly creeping into our territorial waters and exclusive economic zone,” De Lima said.

Further, the senator pointed out that UC Malampaya was only incorporated on September 1, 2019, or 18 days before the Department of Energy (DOE) announced that the service contract with Chevron and Shell will no longer be renewed.

“Dahil bagong gawa lang sila gaya ng Pharmally, wala rin silang karanasan ni kaalaman sa pagpapatakbo ng Malampaya. Bukod dito kailangan pa nila utangin ang pambayad nila,” De Lima said.

(Since they are just newly established like Pharmally, they do not have the experience and knowledge to run Malampaya. Aside from this, they need to borrow money so that they can pay It off.)

“Bakit natin papayagang mabenta ang isang importanteng proyekto sa isang kompanya na walang kakayahang magpatakbo ng Malampaya at walang pambayad?” the senator added.

(Why are we allowing a very important project to be sold to a company that does not have the capacity to run and pay off Malampaya?)

ADVERTISEMENT

Further, De Lima said: “Paano kung sa best friend nilang China sila umutang at gawing collateral yung kanilang interes sa Malampaya? Parang binigay lang natin ang kontrol ng Malampaya sa kanila.”

(What if they borrow money from their best friend China and use their interest in Malampaya as collateral? It’s like we gave them the control over Malampaya.)

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, China, Dennis Uy, Energy, gas, Leila de Lima, Malampaya, Oil, Politics, Udenna
For feedback, complaints, or inquiries, contact us.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.