MANILA, Philippines — If elected, Presidential candidate Manila mayor Francisco “Isko Moreno” Domagoso on Wednesday vowed to explore and further develop the extraction of natural gas deposits in Liguasan Marsh in Maguindanao in a bid to make the country more self-sufficient in fuel.
“As we all know, there is a recent development that the Liguasan Marsh has deposits of natural gas and possible oil,” Moreno pointed out in a statement.
The Manila chief executive continued: “I will see that the natural gas deposit in Liguasan Marsh will be fully developed so that our country will not be always dependent on imported fuel subject to price increases.”
Government estimates said the area beneath Lake Buluan in Maguindanao contains an estimated 68 billion cubic feet of gas worth at least $1 billion or P52 billion.
Moreno pointed out that an initial amount of P2 billion is needed to initially explore the Liguasan Marsh.
“Mindanao is the key to our stability for our oil, methane, and natural gas [needs],” Moreno said.
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