February 4, 2022
I view with grave concern an apparent effort at the Senate to put in bad light recent developments involving the Malampaya Gas Field. This casts undue, undeserved, and unwarranted aspersion on the part of some of our key government officials. This is grossly unfair to them and to the public.
The government values the critical role and contribution of the Malampaya Gas Field to energy security. I will not allow this valuable resource to be jeopardized and embroiled in the political antics of some members of the Senate.
I have seen the report on the sale and purchase of the stock of Chevron Malampaya LLC. Based on this, I am convinced that this was a private transaction between private entities that must be respected. I am likewise convinced that, in this case, the national interest has been protected and the rights of the government remain intact.
I will make it clear once more: investments, foreign and local, are vital to our economy. We compete for them with other countries, and our ability to do so requires me to create and maintain an environment conducive to the entry of investors.
I am calling on our legislators to ensure that our ability to compete is not jeopardized by political intrigues and innuendoes. Leave business transactions in the capable hands of the business sector. Let us respect their business decisions while we protect our national interests.
I acknowledge the power of the Senate to conduct investigations in aid of legislation. I believe this power must be exercised with prudence and circumspection, devoid of reckless accusations, and focused on improving existing laws and the execution thereof.
Let me reiterate: Energy Secretary Cusi has my full trust and confidence and shall remain at the helm of the department he heads.
