TAIPEI (Taiwan News) — The CPC Corporation (CPC), Taiwan's state-owned petrochemical company, announced the arrival of a shipment of carbon-neutral liquefied natural gas (LNG) at Kaohsiung's Yung-An LNG Terminal on March 4.
LNG is natural gas that is cooled to a liquid state for shipping and storage. It is considered the cleanest fossil fuel, and it releases 50 percent less CO2 than burning coal, resulting in negligible emissions of sulfur dioxide and nitrogen oxides compared to other fuels.
According to the CPC, the carbon credits generated by the LNG deal with Shell Eastern Trading — credits which allow companies to emit a certain amount of CO2 — are equal to the amount of 610 times Daan Park's yearly carbon sequestration. Forest conservation plans in Indonesia and Peru back up these credits, which are certified by the United Nations REDD+ program and help to restore and conserve forests in developing countries.
The 64,000 tons of LNG that the CPC bought this time are estimated to generate 240,000 tons of CO2 — from the moment of extraction until usage in power plants. All the carbon emissions will be offset by the forests being protected under the REDD+ program.
The purchase of the carbon-neutral LNG is seen as another effort Taiwan is making towards its target of diminishing greenhouse gas emissions to 50 percent of their 2005 levels by 2050. According to Slavko Preocanin, Vice President of Shell LNG Marketing & Trading, LNG is the cleanest hydrocarbon being used as fuel, and the extended supply of LNG will be crucial to Taiwan's aim of minimizing carbon emissions in its imported energy.