The Philippines has announced its first major natural gas discovery in more than ten years, reinforcing the strategic importance of the Malampaya gas complex and offering a potential boost to the country’s long-term energy security. The discovery offers some relief for a country that has long sought to expand LNG import capacity as domestic gas production from Malampaya declines. While the find does not eliminate the Philippines’ growing reliance on imported gas, it strengthens near-term supply security and underscores the importance…