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Taiwan's CPC signs 15 year LNG deal with Qatar

TAIPEI: Taiwan's state-owned refiner CPC Corp said on Wednesday it had signed a 15-year LNG supply agreement with Qatar Petroleum.

CPC said that from next year it will buy 1.25 million tonnes of LNG annually from Qatar, for domestic consumption.

"Since our country began importing LNG from Qatar in 1997, Qatar has always been an important source of stable supplies," CPC said.

It did not provide financial details of the agreement.

Australia and the United States are Taiwan's other main sources of LNG.

The government is trying to generate more electricity from LNG as it shifts away from both coal-powered and nuclear plants.

(Reporting by Ben Blanchard, Editing by Louise Heavens)

Source: Reuters

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