Taiwan's natural gas supply sufficient through April, minister says

Taipei, March 9 (CNA) Minister of Economic Affairs Kung Ming-hsin (龔明鑫) assured the public Monday that Taiwan's natural gas supply will be sufficient through April, as the country has secured almost all the necessary shipments to replenish inventories.

Speaking to reporters, Kung said that Taiwan's supply for March and April requires 22 liquefied natural gas (LNG) shipments. Currently, 20 have been secured, with the remaining two still under negotiation and expected to be confirmed soon.

He also dismissed recent rumors that Taiwan could face a natural gas shortage, saying, "That is impossible."

The minister said Taiwan has a diversified natural gas supply, with about one-third coming from Qatar and the remaining 60-70 percent sourced from elsewhere, noting 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 will 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 responded that household consumption accounts for less than 5 percent of total gas usage and said this will not be an issue.

Looking ahead to May, Kung said the government will 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 April 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 explained.