Against the backdrop of an improving economy, the Philippines' goal of reaching 60 percent energy self-sufficiency in three years time is marked by the growing number of contracts given out for oil & gas explorations, intensified efforts in developing renewable energy and on-going power sector reforms.

According to Philippine Department of Energy, more than 20 local and international energy groups have expressed interest in exploring and developing oil, coal and geothermal prospects offered by the Philippines in its 3rd energy bidding round for which contracts will be awarded by the end of the year.

In its bid to move towards energy independence, the Philippines energy sector targets includes:

• 20 percent reduction in coal importation by 2014 from the 2004 level of 7,510.1 thousand metric tons
• Increase renewable energy-based capacity from its 2002 level of 4,449 megawatts to 9,147 MW by 2013.
• Convert retired and operation oil based power plants to natural gas by 2010
• geothermal energy increase existing capacity of 1,931 MW to 3, 131 MW by 2013
• increase hydropower capacity from its current level of 3,219 MW to 3,999 MW by 2014
• intensive promotion of Biomass, solar and wind energy resources

For more information on the summit, including agenda, please Contact Injleep at 65 63469113 or visit at www.cmtevents.com

About Centre for Management Technology:

Today in its 24 Years of operation, CMT is dedicated to the provision of the latest technology and business information in the refining/petrochemical industry through high profile conferences focusing on renewable energy sources. Hosting of leading conferences in Petroleum, Refining, Liquid Natural Gas, LPG, future fuels like Biodiesel, Biofuels and alternative energy like Coal to Liquids, Gas to Liquids, Bio mass to Liquid Technology has established CMT as the market leaders in promoting this nascent industry as an alternative global powerhouse. For more information, visit www.cmtevents.com.