Taiwan looks to buy Alaskan natural gas as seeks to head off US tariffs
FILE PHOTO: Snow capped mountains are reflected in Kenai Lake outside of Cooper Landing, in Anchorage, Alaska, U.S., November 3, 2021. Picture taken November 3, 2021. REUTERS/Shannon Stapleton/File Photo
TAIPEI: Taiwan is "quite interested" in natural gas from Alaska and will continue to assess the feasibility of purchases, the economy ministry said on Monday (Feb 10), as the government looks to narrow the trade surplus with the United States and head off tariffs.
US President Donald Trump said on Friday he plans to announce reciprocal tariffs on many economies by this week, a major escalation of his offensive to reshape global trade relationships in ways he considers to be in America's favour.
Taiwan runs a large trade surplus with the United States, which surged 83 per cent last year, with the island's exports to the US hitting a record US$111.4 billion, driven by demand for high-tech products such as semiconductors.
Taiwan's economy ministry said in a statement that the state-run energy company CPC is "indeed quite interested in Alaska's natural gas and will continue to assess the feasibility and is also willing to make additional purchases".
It did not elaborate and CPC did not immediately respond to a request for comment.
Taiwan's official Central News Agency said late on Sunday that CPC is in talks with an unnamed Alaskan company "in the hope of reducing the trade surplus with the US".
Most of Taiwan's natural gas comes from Australia and Qatar, with US imports making up around 10 per cent of supplies.
In 2021, CPC began receiving liquefied natural gas cargoes from Cheniere Energy under a 25 year deal signed with the US company in 2018 shortly before then-Taiwan President Tsai Ing-wen visited the United States.
Taiwan Economy Minister Kuo Jyh-huei said on Saturday that Taiwan could follow Japan's example and import more US energy.
Japan will soon begin importing a record amount of US liquefied natural gas, Trump said on Friday after talks with Japanese Prime Minister Shigeru Ishiba.
