TAIPEI, Jan 10 (Reuters) - Taiwan’s state-owned CPC Corp began on Sunday receiving liquefied natural gas (LNG) cargoes from Cheniere Energy Inc under a 25 year deal signed with the U.S. company in 2018, and will get around 30 shipments annually.
CPC said the vessel carrying the LNG, from Cheniere’s Corpus Christi, Texas, LNG facility, had arrived at the LNG terminal in Taichung.
Under the agreement, signed shortly before Taiwan President Tsai Ing-wen visited the United States in August 2018, the island will receive approximately 30 shipments a year until 2045, the company added.
Taiwan’s government has viewed the deal as an important part of Taiwan’s efforts to reduce its yawning trade surplus with the United States, which has become a source of tension with Washington, Taiwanese officials have previously told Reuters.
The United States has become a major LNG exporter, mostly due to the ramp up of Cheniere’s Sabine Pass terminal in Louisiana.
Taiwan has been trying to diversify its energy mix, and CPC said increasing imports of LNG would help with that goal. (Reporting by Ben Blanchard; Editing by Lincoln Feast.)