Taiwan’s LNG imports rise in Feb YoY

Taiwan, the world’s fifth largest liquefied natural gas (LNG) buyer, increased its imports of the chilled fuel by 26 percent in February.

Taiwan imported 1.28 million mt of LNG in February, as compared to 1.01 million mt in the same month in the same month last year, according to the data released by the Directorate General of Customs.

The country paid about $549 million for LNG imports in February, the data shows.

Qatar, the world’s top LNG exporter, remained the dominant supplier of the fuel to Taiwan in the month under review.

LNG imports from Qatar reached 376,010 mt, followed by Papua New Guinea that supplied 178,984 mt of the chilled fuel to Taiwan in February.

The rest of the LNG imports came from Malaysia, Indonesia, Oman, Australia, Russia, Brunei, Trinidad and Tobago and the U.S., according to the customs data.

Taiwan’s LNG imports rose 2.7 percent to 14.97 million mt in 2016.

With less reliance on nuclear power and dwindling domestic natural gas resources, Taiwan is expected to increase its LNG imports in the future to drive power sector growth.

The country currently imports the chilled fuel via two regasification terminals, located in the central and southern parts of the island.

State-owned CPC is also planning to build a third LNG import terminal to serve the northern region near Taipei.

LNG World News Staff