Taiwan Receives 1st LNG from Cheniere
Taiwan’s state-run CPC Corporation received its first LNG cargo from US exporter Cheniere Energy on January 10 under a 25-year deal signed in 2018, CPC said on the same day.
The agreement covers the delivery by Cheniere of up to 2mn metric tons/year of LNG on an ex-ship basis, starting in 2021. The purchase price is indexed to the monthly Henry Hub price, plus a fee. The LNG cargo that arrived on January 10 came from Cheniere's export facility in Corpus Christi, Texas, and was unloaded at CPC’s Taichung LNG terminal, the Taiwanese company said.
CPC said it was committed to diversifying its LNG sources with a focus on purchases from Australia, Qatar and the US. Taiwan is a major LNG importer, taking 16.5mn mt of the commodity in 2019. CPC has a monopoly over these imports.