Taiwan to import more US natural gas to cut trade surplus

台灣將進口更多美國天然氣以削減貿易順差

Taiwan economics officials say purchases already discussed with Alaskan producers


TAIPEI (Taiwan News) — Taiwan will import more US natural gas to reduce its trade surplus with the country, economic officials said Sunday.

The officials said CPC Corporation and the economics ministry are working to increase imports for strategic reasons, CNA reported. They said Taiwan is negotiating purchase details with Alaskan natural gas sources, and planning is now focused on finding shorter shipping routes that avoid geopolitically sensitive areas.

Economics Minister Kuo Jyh-huei (郭智輝) hinted at the plans on Saturday when he said Taiwan could follow Japan’s example to reduce its trade surplus. Kuo spoke following a meeting between Japanese Prime Minister Ishiba Shigeru and US President Donald Trump, during which Trump said he is looking to eliminate the US trade deficit with Japan “very quickly” through increased energy exports.

At the Saturday meeting, Ishiba said Japan is interested in importing liquefied natural gas and other resources at stable and reasonable prices. He also lamented former President Joe Biden’s reluctance to export liquefied natural gas.

Kuo said he would refer to Trump’s policies toward Mexico, Canada, and Japan when asked how to reduce Taiwan’s trade surplus with the US. He said the Japanese case shows Trump’s determination regarding energy.

State-owned CPC Corporation’s annual natural gas demand is approximately 20 million tonnes and is sourced from 14 countries. The top three countries Taiwan purchases from are Australia, Qatar, and the US.

US natural gas imports account for about 10% of Taiwan’s total. CPC Corporation has three long-term contracts with US producers, valid for between 20 and 25 years.