Taiwan Eyes Alaskan Natural Gas amid US Trade Tensions
Taipei, Taiwan - Taiwan expressed "strong interest" in purchasing natural gas from Alaska, according to the economy ministry's statement on Monday. The move aligns with the government's efforts to mitigate the trade surplus with the United States and avert potential tariffs.
In response to Taiwan's substantial trade surplus, which rose by 83% in 2021, US President Donald Trump threatened to impose reciprocal tariffs this week. Taiwan's exports to the US reached a record $111.4 billion, driven by high-tech products like semiconductors.
The economy ministry announced that the state-run energy company CPC intends to "thoroughly evaluate the feasibility" of Alaskan natural gas purchases and is "willing to make additional acquisitions."
Currently, most of Taiwan's natural gas originates from Australia and Qatar, with US imports accounting for approximately 10%. In 2021, CPC commenced receiving liquefied natural gas (LNG) shipments from Cheniere Energy, pursuant to a 25-year deal signed in 2018.
Economy Minister Kuo Jyh-huei suggested following Japan's lead by importing more US energy. Trump announced that Japan would soon import a record volume of US LNG following discussions with Japanese Prime Minister Shigeru Ishiba on Friday.