Taipei:State-owned CPC Corp., Taiwan will invest up to US$4.4 billion in an Alaska liquefied natural gas (LNG) project, aiming to purchase 6 million metric tons of LNG annually once production commences, as confirmed by the Ministry of Economic Affairs.

According to Focus Taiwan, the project, if on schedule, may begin supplying LNG to Taiwan by 2032. This initiative is intended to diversify Taiwan's LNG supplies, enhance flexibility in supply and distribution management, bolster energy security, and strengthen ties with the United States.

The strategic location of Alaska facilitates direct shipping of LNG to Taiwan across the Pacific Ocean. This route could mitigate geopolitical risks and diversify Taiwan's energy supplies.

The ministry emphasized that the partnership will focus on mutual benefit and shared prosperity. CPC is currently working on the specifics of the purchase and investment.

Premier Cho Jung-tai highlighted the government's efforts since the year's start to ensure stable supplies of oil, electricity, and natural gas. He urged public support for state-owned utilities. Earlier, CPC Chairman Fang Jeng-zen mentioned plans to increase U.S. LNG purchases to about one-third of the company's total imports.