TAIPEI (Taiwan News) — Taiwan’s Ministry of Economic Affairs said Friday that the country’s liquefied natural gas (LNG) supply will remain stable through September despite concerns over Middle East tensions and potential disruptions in the Strait of Hormuz.
Responding to media reports claiming a blockade of the Strait of Hormuz has left Taiwan with only 11 days of LNG reserves, the ministry said the government activated an energy emergency response task force immediately after the outbreak of war in the Middle East, per UDN. Officials said they have closely monitored supply and demand conditions while coordinating alternative gas sources, adding that Taiwan has not experienced any natural gas or power shortages over the past 70 days.
The ministry said current assessments indicate gas supplies will remain secure through September, while winter natural gas dispatch and operational planning have already begun to ensure sufficient domestic supplies. It added that all power generation units are operating according to normal schedules and urged the public and industry to remain assured.
For short-term contingencies, the government has reviewed LNG shipments that may be affected by developments in the Middle East and adjusted shipping schedules accordingly, UDN reported. Alternative gas sources have already been secured, while CPC Corporation Taiwan continues to purchase spot cargoes and negotiate with long-term suppliers for early deliveries to ensure uninterrupted LNG imports.
In response to concerns about Australia’s planned Domestic Gas Reservation Scheme under its “Gas Market Review,” the ministry said it had closely monitored developments from the outset, per TVBS. The ministry said CPC Taiwan’s medium- and long-term LNG procurement contracts with Australian suppliers will not be affected by the policy changes.
The ministry said Taiwan could procure alternative LNG supplies from the US and the Asia-Pacific region even if Australia reduces spot market exports in the future, TVBS reported. Officials added that the government will continue monitoring the implementation details of Australia’s new system and maintain communication with Australian authorities as needed.
The ministry said Taiwan has implemented rigorous risk management measures for natural gas supplies and maintains sufficient safety reserves to handle emergencies. It added that the government has diversified LNG import sources and secured stable supplies through medium- and long-term contracts to strengthen Taiwan’s import security.
