Taiwan has stated that it has received assurances regarding LNG supplies from a ‘major’ country
Taiwan has obtained supply assurances from the energy minister of a significant liquefied natural gas-producing nation, as stated by the island’s economy minister on Saturday, addressing the effects of the Iran war on Middle East energy imports.
Taiwan, a significant player in semiconductor production, previously depended on Qatar for approximately one-third of its LNG prior to the conflict. It has announced that it has arranged alternative supplies for the upcoming months from nations such as Australia and the United States.
In a conversation with reporters in Taipei, Economy Minister Kung Ming-hsin stated that Taiwan’s strong relationships with its crude oil and natural gas suppliers mean that adjusting shipment origins or acquiring additional spot cargoes would not pose any issues.
Kung mentioned that approximately two weeks ago, the energy minister from a prominent energy-producing nation reached out to him proactively.
The individual clarified that they would completely assist us with our natural gas requirements. “If we have any demand, we can inform them,” he added.
“Another country even mentioned that certain nations have released strategic petroleum reserves, and they could also assist in coordinating efforts if Taiwan requires support,” Kung stated. “This indicates that Taiwan has indeed garnered significant goodwill on the international stage through the trust it has cultivated over the years,” he added.
He chose not to disclose the names of the countries involved.
Angela Lin, spokesperson for state-owned refiner CPC, stated at the same news conference that crude oil inventories are being kept at pre-conflict levels, and the overall supplies of petrochemical feedstock have remained stable.
CPC Chairman Fang Jeng-zen stated that to lessen reliance on the Middle East, a new agreement with the U.S. will provide 1.2 million metric tons of LNG each year, with the potential for increased supplies in the future, including from Alaska.
Nonetheless, Taiwan is not contemplating the importation of crude or LNG from Russia, he noted.
