Taiwan says U.S. has not approached it on LNG diversion

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Taiwan has not been approached by the United States on the issue of diverting some supplies of Liquefied Natural Gas (LNG) to Europe if the Ukraine crisis leads to a disruption, the economy ministry said on Monday.

Responding to questions on whether Taiwan, another major Asian LNG customer, had also been asked to do so by the United States, the economy ministry said it had "not received any relevant information or inquiries".

In a statement, it added, "Our country's natural gas imports come from a variety of sources, and continues to adapt the procurement strategy to diversify import risks." Taiwan gets its LNG from more than 10 nations such as Australia, Indonesia, Qatar and Russia, from both long- and medium-term contracts and on the spot market as needed, the ministry said.Taiwan aims to generate more electricity from LNG in the shift away from both coal-powered and nuclear plants, and is building a massive new LNG terminal off its northwestern coast.CPC said that from this year it would buy 1.25 million tonnes of LNG annually from Qatar, for domestic consumption.

Source: Financial Digest (financialdigest.net)

 

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