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July 26, 2017

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CPC to spend NT$18.5 bil. on Taichung LNG storage tanks

The China Post news staff--CPC Corp. Taiwan, a state-run oil company under the jurisdiction of the Ministry of Economic Affairs, plans to set up three liquefied natural gas (LNG) storage tanks at Taichung Harbor with at a total cost of NT$18.5 billion over the next six years to facilitate natural-gas power generation, Economic Minister Shih Yen-hsiang said yesterday.

Shih revealed the plan when speaking at a ceremony held yesterday to celebrate the entry of the 100th LNG ship of the CPC's Taichung LNG plant into Taichung Harbor.

The three new tanks will be completed in 2018, for an additional storage capacity of 160,000 kiloliters of LNG.

The minister said that natural gas power generation now accounts for 35 percent of Taiwan's total power generation, and the MOEA will move to boost the ratio to reduce carbon emissions.

Carbon emission for per kilowatt/hour electricity generated by natural gas is only half of the carbon emission released by coal-fueled power generation, and therefore the MOEA has shown high regard for the sourcing, transportation and storage of natural gas, according to Shih.

The MOEA estimated the natural gas power generation to increase by 10,000 kilowatts over the next 20 years to reach 25,000 kilowatts in 2030 from 15,000 kilowatts in 2011.

At present, the CPC operates two LNG terminals, with one each in Taichung of central Taiwan and Kaohsiung of southern Taiwan. The two terminals have a total of 9 LNG tanks with a combined storage capacity of 1.17 million kiloliters.

The Taichung LNG plant became operational in July 2009, and has smoothly completed transmission of 100 ships of LNG within only two years, able to offer 3 million tons of pure energy a year, according to CPC.

After the construction of three additional LNG tanks is completed by the end of 2018, the Taichung LNG plant will boost its annual output capacity to 5 million tons from the existing 3 million tons, thus significantly reducing carbon emissions while meeting local demand for LNG.

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