Taiwan’s state-run CPC Corp has signed a letter of intent with Alaska Gasline Development Corp (AGDC) to buy LNG and invest in the Alaska LNG project, the Ministry of Economic Affairs said.
Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the Ministry said.
Alaska LNG is being jointly promoted by AGDC and developer Glenfarne Group, as Alaska plans to export up to 20 mill tonnes of LNG annually from 2031.
The project involves the construction of an 1,290 km pipeline to transport natural gas from Alaska’s North Slope to a liquefaction facility.
Once operational, this project would become the closest LNG supply source to Taiwan among the existing US facilities, the Ministry claimed.
Without the need to pass through the Panama Canal, it could effectively shorten voyage times, reduce shipment risks and improve the reliability of Taiwan’s natural gas supply.
The Ministry said that this investment agreement would help deepen the energy partnership between Taiwan and the US, and also lays a good foundation for the diversification of its energy supply.
