CPC does not rule out cooperating with U.S. shale gas suppliers

Taipei, July 12 (CNA) CPC Corp., Taiwan, said Saturday it does not rule out cooperating with the United States on the possible supply of shale gas.

The state-run oil refiner said in a statement that U.S. shale gas assets have been among its evaluation targets, given the country's stable production capacity and favorable investment environment.

The company issued the statement in response to a Reuters report earlier in the day, which cited sources familiar with the matter as saying the Taiwanese firm is in early stage discussions to purchase shale gas-producing assets in the United States.

"If a deal is struck, CPC would join a growing list of Asian companies taking ownership of U.S. natural gas assets," the report said, adding that the company has explored in recent months bids for assets held by public and private equity-backed gas producers.

In order to strengthen the country's energy security and enhance self-sufficiency, the company has been looking to diversify its operations and seek new sources of natural gas supply, CPC Corp., Taiwan, said.

Natural gas plays a key role in the energy transition process, making it an important task for the company to increase its oil and gas resources, it added.

Any promising cooperation will not be excluded from evaluation, the company said without providing further details.

In March, CPC Corp., Taiwan, signed an agreement with the Alaska Gasline Development Corp. to purchase liquefied natural gas (LNG) and invest in the Alaska LNG project.

The project aims to transport gas from northern Alaska via pipeline to the southern coast, where it will be liquefied and shipped to Taiwan, Japan and South Korea.