TAIPEI (Taiwan News) – State-run energy supplier CPC Corporation, Taiwan said Tuesday it expects the first delivery of liquefied natural gas from Alaska to arrive in 2030 or 2031.

The company signed a letter of intent with the Alaska Gasline Development Corporation on March 20 while Alaska Governor Mike Dunleavy was in Taiwan. CPC denied media reports that deliveries would start after 2031, saying they would begin in 2030 at the earliest. The process usually takes three to five years, per Radio Taiwan International.

The two sides would discuss quantities and other details according to the agreement. Advisors will also assess the most favorable procurement conditions before the sides sign a long-term contract.

The legal staff at CPC will help design the contract and work out investment and shareholding details. Alaska would be the Taiwanese company's fourth gas source in the US.

CPC said ships from Alaska only need 10-11 days to reach Taiwan, as they do not need to pass through the Panama Canal. The travel time and route limits geopolitical risks, the company said.