Taiwan: Six Gas Tankers Coming, No Shortages Despite Middle East Tensions

With US-Iran tensions escalating and geopolitical risks rattling global energy markets, concerns over Taiwan's natural gas and crude oil supply have intensified. But the Ministry of Economic Affairs moved to reassure the public on Tuesday, disclosing that six LNG carriers are scheduled to dock within the next two weeks — and pledging that CPC Corporation's three-stage contingency plan will ensure the island never runs out of gas.

Six Ships Coming, Supply Secure Through March 26

Ministry officials revealed that all LNG vessels scheduled before March 15 had already departed and are currently at sea, making them unaffected by the current shipping disruptions. Six of those carriers are expected to arrive and unload within the coming two weeks, with arrivals anticipated around March 15.

Based on current weather conditions and domestic power consumption, Taiwan needs approximately 30 LNG tankers per month to meet energy demand. Officials said that with an existing 11-day strategic reserve, overall supply is secured through March 26. CPC has been instructed to urgently negotiate spot cargo arrangements with Japanese and South Korean counterparts in the interim, with repayment in kind at a later date.

Qatar and Saudi Arabia: No Disruption to Exports

The ministry also pushed back against circulating reports that Qatar and Saudi Arabia had halted exports due to the conflict. After direct contact with operators, CPC confirmed that Saudi Aramco's refinery continues to operate normally despite a drone strike, and that Qatar's RasLaffan facility suspended LNG production only as a precautionary measure to prevent storage tanks from overfilling — not as a result of conflict damage. CPC said it has full visibility over incoming vessel schedules and that short-term supply remains unaffected.

CPC's Three-Stage Plan: The Government's Guarantee

Should the situation worsen into extreme scenarios — such as a prolonged Iranian blockade of shipping lanes — the ministry has directed CPC to implement a sequential three-stage response it says will guarantee supply under any circumstances.

The first stage calls for advance procurement from non-Middle Eastern sources, redirecting purchases toward suppliers in the United States and Australia. If that proves insufficient, the second stage activates mutual assistance with fellow Asian LNG buyers Japan and South Korea. The third and final stage involves purchasing on the open spot market to close any remaining gap.

"Gas supply to the public will not be interrupted," the ministry stated.

Beyond the immediate crisis, the ministry pointed to longer-term diversification already underway. CPC signed a 25-year LNG supply agreement with Cheniere Energy, the largest LNG exporter in the United States, on February 10 — just before the Lunar New Year. Initial deliveries are set to begin as early as June 2026, with annual volumes reaching up to 1.2 million metric tons from 2027. By 2029, the US share of Taiwan's natural gas imports is targeted to rise from the current 10% to between 15% and 20%.

The ministry said it activated an emergency task force on March 2, chaired by Vice Minister Lai, with daily meetings involving the Bureau of Energy, the State-Owned Enterprise Commission, and the Comprehensive Planning Division alongside CPC and Taipower. Taipower has also been placed on standby, with backup power facilities ready to serve as an electricity reserve if needed.

Original Article in Chinese

Six Ships Coming, Supply Secure Through March 26

Qatar and Saudi Arabia: No Disruption to Exports

CPC's Three-Stage Plan: The Government's Guarantee

US Gas to Double Its Share by 2029