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Updated Wednesday, March 12, 2008 0:00 am TWN, Bloomberg

Taiwan’s spot LNG imports to increase 43%, CPC says

TAIPEI, Taiwan -- Taiwan’s spot liquefied natural gas imports will rise 43 percent in 2008 from a year ago because of increasing demand for power generation, Jane Liao, general manager of state oil company CPC Corp., said. Spot-cargo imports will rise to 3 million metric tons, and total LNG imports will increase 13 percent to 9.4 million tons this year, Liao said at the Gastech conference in Bangkok yesterday. CPC is Taiwan’s only LNG importer and bought its first spot cargo of 120,000 tons in 2004.

CPC paid a record US$679.20 a ton, or US$13 per million British thermal units, for LNG since imports began in 1990, the island’s energy bureau said on Feb. 29. Prices rose after oil surged to a record, while competition between Asia and Europe for LNG supplies intensified on lower supplies.

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