Minister of Economic Affairs Kung Ming-hsin (龔明鑫) today said that Taiwan's natural gas supply would be sufficient through next month, as the nation has secured almost all the necessary shipments to replenish inventories.
Taiwan's supply for this month and next requires 22 liquefied natural gas (LNG) shipments, Kung told reporters.
Photo: Reuters
Currently, 20 have been secured, with the remaining two still under negotiation and expected to be confirmed soon, he added.
He also dismissed rumors that Taiwan could face a natural gas shortage, saying: "That is impossible."
Taiwan has a diversified natural gas supply, with about one-third coming from Qatar and the remaining 60 to 70 percent sourced from elsewhere, he said, adding that the overall supply structure is sound.
"We have already secured 20 LNG shipments in just a few days," Kung said without providing details where the shipments would come from, and urged the public not to worry.
Regarding residential gas use, some have expressed concern that there might not be enough gas for hot showers.
Kung said that household consumption accounts for less than 5 percent of total gas usage and said this would not be an issue.
Looking ahead to May, Kung said the government would continue monitoring global supply and demand, adding that the situation is expected to improve as global gas demand declines.
Asked about the cost of LNG supplies Taiwan may secure for next month amid disruptions linked to the Middle East conflict, Kung said prices could be higher if shipments are procured on the spot market, but would remain at contract levels if delivery schedules are adjusted in advance.
Rising energy prices and the impact of the conflict are challenges faced by countries around the world, not just by Taiwan, he added.
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