TAIPEI (Taiwan News) — Taiwan’s oil and gas supplies are expected to remain stable through at least August or September despite rising tensions in the Strait of Hormuz, a senior economic official said Wednesday.
Speaking at a Taiwan energy forum, Vice Minister of Economic Affairs Lai Chien-hsin (賴建信) said that daily coordination meetings are held to monitor energy conditions. He acknowledged potential risks to global energy supply chains but said Taiwan has built a relatively stable system through diversified procurement and long-term planning, per CNA.
He said state-run oil company CPC Corp. maintains a database covering more than 180 types of oil products across 40 countries. This allows Taiwan to quickly switch supply sources if disruptions occur, helping ensure steady supplies through August at a minimum.
On broader energy policy, Lai said Taiwan is in a second major energy transition, focusing on resilience while expanding green energy, strengthening power grids, and improving energy conservation and storage. He said electricity is not only a foundation of economic development but also a reflection of national strength.
On renewable energy, Lai said offshore wind capacity ranks third globally in terms of potential and ambition, drawing interest from countries such as Japan and South Korea. In addition, a demonstration project for floating wind farms is expected to launch by the end of this year, with further assessments of surrounding seas planned, per CNA.
Lai said that while green electricity has traditionally been supplied to industry through feed-in tariffs, future efforts will focus on integrating microgrids and energy storage systems to expand access for households. This is expected to improve public acceptance and strengthen grid resilience, particularly during extreme weather or disasters.
On energy conservation, Lai said Taiwan saved 770 million kilowatt-hours of electricity in the first quarter of the year, equivalent to the supply carried by about 1.6 liquefied natural gas tankers. The government plans to expand efficiency efforts through coordinated energy service programs.
Looking ahead, Lai said energy storage is emerging as a key sector, with both grid-connected and off-grid systems set for further development. He added that companies pursuing Renewable Energy 100% goals will need to diversify their renewable energy sources and expand storage capacity. Thus, the government will also promote microgrids and fuel cells in rural and community settings while supporting the growth of Taiwan’s domestic energy storage industry.
Lai added that electricity demand is expected to continue rising and the government will work to optimize the energy system through policy and market mechanisms. He was confident these measures would ensure stable and affordable power for both industry and the public.
